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Article: Worthington Industries Sells Its Share of Acerex Steel Processing Joint Venture.
- Article from:
- Business Wire
- Article date:
- April 7, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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COLUMBUS, Ohio -- Worthington Industries (NYSE:WOR) announced today that it has agreed to sell its 50% equity interest in Acerex, S.A. de C.V., a steel processing facility in Monterrey, Mexico, to its partner, Ternium, S.A. (NYSE:TX) for $44.6 million.
The joint venture was formed in 1994 with Hylsa, S.A. de C.V., which was recently acquired by Ternium. The ownership change at Hylsa prompted the sale of the joint venture. Worthington remains interested in the Mexican steel processing market and is exploring opportunities to continue the success that the company has enjoyed there for over a decade.
Worthington Industries is a leading diversified metal ...