Arcelor SA, the world's largest steel maker, announced plans to sell its U.S. stainless steel subsidiary J&L Specialty Steel Inc.
"J&L is in the process of identifying potential buyers," Arcelor spokesman Luc Scheer said, declining to comment further.
Arcelor already indicated in its third-quarter results released last month that the U.S. stainless steel market was deteriorating and J&L was struggling.
J&L Specialty employs about 900 people in two plants located in Midland, Pa. and Louisville, Ohio. Arcelor said last month that it was considering shutting down the Midland furnace.