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Worldwide Stainless, a company registered in Malaysia, acquires the factory for the sum of USD 95 million. The closing of the transaction will take place at the end of November 2024.

Acerinox, S.A. and Worldwide Stainless Sdn. Bhd, a company registered in Malaysia, have signed, today, an agreement pursuant to which Acerinox, S.A. will sell its subsidiary Bahru Stainless Sdn. Bhd. for a total sum of USD 95 million.

It is expected that the final closing of the transaction will take place at the end of November 2024. Acerinox, S.A. had previously announced, on May 29 of this year, the discontinuance of the activities of Bahru Stainless Sdn. Bhd.

This transaction, in the words of our CEO, Bernardo Velázquez, represents an “important strategic decision” that is considered to be “the option that best defends the interests of our employees, customers and the community in general” and he thanks them all for their contribution to the Group over recent years.