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Worthington Industries

(WOR) - Get Free Report

agreed to sell its 50% equity interest in Acerex, a Monterrey, Mexico-based steel processing facility, to partner Ternium of Luxembourg for $44.6 million.

Acerex was formed in 1994 by Worthington and Hylsa. Worthington's decision to sell was prompted by Ternium's recent acquisition of Hylsa. The company said it is still interested in Mexico's steel processing market and is exploring opportunities there.

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