Worthington Steel to acquire a 52% stake in Sitem Group.

Worthington Steel, a metals processor that partners with customers to deliver highly technical and customized solutions, agreed to acquire a 52% stake in Sitem Group, a producer of electric motor laminations and accessory products for automotive and industrial applications. Financial terms were not disclosed. “We are excited to partner with Worthington Steel. This investment and partnership will enable us to better serve global automotive and industrial motor customers. Their philosophy aligns with our values and is a great fit for our employees,” Marco Bartoloni, Sitem Group CEO.