In September, the company announced it was divesting its stake for US$63 million to help reduce debt. The deal has lowered its net debt by EUR50 million, Outokumpu said. Established in 1998, the joint venture originally was made up of ThyssenKrupp Mexinox and Fischer. Outokumpu later became a partner in the joint venture when it acquired ThyssenKrupp's stainless division. The JV is Mexico's largest stainless tube producer. Outokumpu’s other operations in Mexico are unaffected by the deal. Its presence in the Americas consists of five mills, including the integrated stainless steel mill in Calvert, Ala., USA, and a cold rolling mill in San Luis Potosí, Mexico.