Acerinox, S.A. has signed an agreement to sell its subsidiary, Bahru Stainless Sdn. Bhd., to Worldwide Stainless Sdn. Bhd., a Malaysian company, for a total of USD 95 mln.
The final closing of the transaction is expected to occur at the end of November 2024.
Earlier this year, on May 29, Acerinox announced the discontinuation of activities at Bahru Stainless Sdn. Bhd. In 2023, Bahru Stainless produced 77,181 tons of CR stainless steel.
Based in Madrid, Spain, the Acerinox Group is a major player in stainless steel and high-performance alloys, with a global presence on five continents, factories on four continents, and customers in 81 countries.
