Worthington Steel Completes Acquisition of Controlling Equity Stake in Italy-Based Sitem Group
Worthington Steel, Inc. (NYSE:WS) ("Worthington Steel" or the "Company") announced today that it has completed the acquisition of a controlling equity stake in Italy-based Sitem S.p.A. (together with its subsidiaries, Stanzwerk AG, Decoup S.A.S. and Sitem Slovakia spol. s r.o., "Sitem Group") through its subsidiary, Tempel Steel Company, LLC ("Tempel"). Worthington Steel now holds an approximately 52% stake in Sitem Group, with the option to increase ownership in the future.
"This marks a significant step in our strategic growth plan, enhancing our position in the European electric motor lamination market and strengthening our ability to support global automotive, industrial motor and tra
