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U.S. Steel sells off its stake in specialty steel plant

Paul J. Gough
·2 min read
U.S. Steel sells off its stake in specialty steel plant

United States Steel Corp. has sold its shares in a steel processing plant in Michigan it owned for nearly four decades in a joint venture with Worthington Industries. Marubeni-Itochu Steel Inc.'s U.S. subsidiary acquired the Worthington Specialty Processing plant in Jackson, Michigan. Financial terms of the all-cash deal weren't announced, although a Securities and Exchange Commission filing by Worthington said it received $21.3 million in net cash proceeds from the deal.

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