Acerinox, the Spanish stainless steel producer, has agreed to sell its subsidiary Bahru Stainless Sdn. Bhd. to Malaysia-based Worldwide Stainless Sdn. Bhd. for $95 million. The transaction is expected to be finalized by the end of November 2024. This strategic decision follows Acerinox’s earlier announcement in May 2024 to discontinue operations at the Bahru unit due to sustained losses and challenging market conditions in Asia. The sale is anticipated to help Acerinox reduce its debt significantly and focus on more stable markets.