Sitem Group

Worthington Steel, through its subsidiary Tempel Steel Company, will acquire a 52% stake in Italy's Sitem Group, a European leader in magnetic laminations and die-cast components for electric motors. The transaction value was not disclosed.

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.