LTV Corp. plans to sell its specialty steel unit.

The company said the sale of the unit, the nation’s second-largest producer of stainless steel in sheets, strips and plates, is part of its plan to spin off assets. LTV earlier had announced a reorganization plan that includes an effort to raise $500 million in cash over the next 18 months from joint ventures and divestitures. The company said that strategy led to the decision to sell LTV Steel Specialty Products. A buyer has not yet been found, the company said, and an asking price was not announced.