Worthington Steel inks deal for controlling stake in Italy's Sitem

Worthington Steel has agreed to acquire a controlling equity stake in Italy’s Sitem SpA, a producer of electric motor laminations.

The Columbus, Ohio-based steel processor will make the acquisition through its Tempel Steel Co. subsidiary. The deal includes Sitem subsidiaries Stanzwerk AG, Decoup SAS, and Sitem Slovakia. Collectively known as the Sitem Group, the companies make electric motor laminations and accessory products for automotive and industrial applications in Europe.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.