Worthington Steel to acquire controlling stake in Italy-based Sitem Group

Worthington Steel, through its subsidiary Tempel Steel Company, has agreed to acquire an approximately 52% stake in Italy-based Sitem Group, a producer of electric motor laminations. The transaction is expected to close in early 2025.

“This investment aligns with our strategic goal to grow our electrical steel lamination business and expand our customer reach.”tempel.com

• 3 sources
• tempel.comWorthington Steel to acquire controlling equity stake in Italy-based Sitem GroupTempelDec 2, 2024
• electricmotorengineering.comWorthington Steel to acquire controlling equity stake in Italy-basedAnna BonanomiFeb 15, 2025
• electricmotorengineering.comWorthington Steel and Sitem Group: a partnership in the nameAnna BonanomiMar 6, 2025

Summarized from public sources; check the original articles before acting on it.