Worthington Steel to Acquire Controlling Equity Stake in Italy-Based Sitem Group [Yahoo! Finance]
Worthington Enterprises, Inc. Common Shares (WOR)
Last worthington enterprises, inc. common shares earnings: 3/26 06:55 am
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Source: Yahoo! Finance
it has reached an agreement to acquire through its subsidiary, Tempel Steel Company, LLC ("Tempel"), 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"). Sitem Group produces electric motor laminations and accessory products for automotive and industrial applications in Europe. Worthington Steel will acquire, through the acquisition of shares from existing shareholders of Sitem Group, the contribution of Worthington Steel's Nagold, Germany, facility and the subscription of reserved share capital increases, an approximately 52% stake in Sitem Group with the option to increase ownership in the future. The transaction is expected to close in early 2025, subject to the receipt of applicable regulatory approvals and customary closing conditions. "This investment aligns with our strategic goal to grow our electrical steel lamination business and expand our customer reach," said
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News
- Worthington Steel Second Quarter 2025 Earnings: Revenues Beat Expectations, EPS Lags [Yahoo! Finance]Yahoo! Finance
- Worthington Enterprises, Inc. (NYSE: WOR) had its price target raised by analysts at Canaccord Genuity Group Inc. from $46.00 to $49.00. They now have a "hold" rating on the stock.MarketBeat
- Worthington Steel Reports Second Quarter Fiscal 2025 Results [Yahoo! Finance]Yahoo! Finance
- Worthington Enterprises Reports Second Quarter Fiscal 2025 Results [Yahoo! Finance]Yahoo! Finance
- Worthington Enterprises Reports Second Quarter Fiscal 2025 ResultsGlobeNewswire
WOR
Sec Filings
- 12/20/24 - Form 8-K
- 12/20/24 - Form 4
- 12/17/24 - Form 8-K
- WOR's page on the SEC website