Valmont Industries (NYSE:VMI) announced that they have sold their 49 percent stake in Manganese Metal Company.

As quoted in the press release:

Bilston contributed $5.1 million after tax to Valmont in 2012. The Company does not expect the profit or loss on the sale to be material, although certain deferred tax benefits approximating $3 million associated with the sale are expected to be recognized in 2013.

To view the whole press release, click here.