Noble International Acquires Interest in S.E.T. Steel
DETROIT, Feb. 21 -- Noble International Ltd. has acquired a 49 percent interest in S.E.T. Steel Inc. (SET), a certified minority business enterprise. SET is a Tier I metal processor, principally providing steel slitting services to the automotive industry. Additionally Noble has completed the sale of its wholly owned subsidiaries, Noble Metal Forming Inc. and Noble Metal Processing - Midwest Inc. to SET, for approximately $27.0 million. Noble will continue to own and operate its core laser blank welding operations at Noble Metal Processing Inc.'s operations in Detroit, Mich., Shelbyville, Ky., and Brantford, Canada.
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