Acerinox, S.A completed the sale of its subsidiary to Worldwide Stainless for a total sum of USD 95 million.
Dec 13, 2024
Spanish stainless-steel producer Acerinox has announced that it has completed the sale of its Malaysia-based subsidiary Bahru Stainless to Worldwide Stainless.
Acerinox decided to discontinue the operation of Bahru Stainless in May last year after evaluation. The decision was made due to heavy losses suffered by the company caused by competition from Chinese manufacturers.
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‘‘The sale is an important strategic decision designed to defend the interests of employees, customers, and the community,’’ said Acerinox CEO Bernardo Velázquez Herreros.
