Service Centers

Worthington expands European presence with closing of Sitem deal

Written by Laura Miller

June 3, 2025

Worthington Steel, through its Tempel Steel subsidiary, has closed on its acquisition of a controlling stake in Sitem SpA.

The Columbus, Ohio-based processor announced in December it had agreed to take a controlling equity stake in the electric motor lamination producer for an undisclosed sum.

Worthington said on Tuesday that the deal has officially closed. It now holds a 52% stake in Sitem Group, which is based in Italy and has six manufacturing sites across Italy, Switzerland, Slovakia, and France.

“This marks a significant step in our strategic growth plan,” said Worthington Steel CEO Geoff Gilmore, “enhancing our position in the European electric motor lamination market and strengthening our ability to support global automotive, industrial motor and transformer customers.”

Worthington has a long-term goal of expanding its offerings of electrical steel applications.

Its stake in Sitem significantly expands the company’s presence in the European market. Before the buy, its only location on the continent was a Tempel Steel location in Nagold, Germany.

Recall that Worthington Steel is now in its second year as a standalone company, having spun off from Worthington Enterprises in December 2023.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held a variety of positions within the steel industry since 2007, including reporting and editing for Steel Business Briefing/Platts, the Association for Iron and Steel Technology, and Kallanish Commodities, as well as marketing for what was then known as ThyssenKrupp Steel USA (now AM/NS Calvert). After a five-year hiatus working across other industries, she returned to steel in 2021 and has covered the flat rolled, tubular, and trade areas of the industry. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.

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