Ternium
From Wikipedia, the free encyclopedia
Ternium (NYSE: TX) is a steel maker in the Americas that produces flat and long steel products. Ternium was formed by the consolidation of three companies: Siderar (Argentina), Sidor (Venezuela) and Hylsa (Mexico). The company takes it name from the Latin words Ter (three) and Eternium (eternal) in reference to the integration of the three steel mills. Ternium is a division of Argentina based Techint group and employs over 18,000 people worldwide.
[edit] Expropriation
The Venezuelan branch, Sidor, was nationalised by the Venezuelan government in May 2008, and the government was in talks with Ternium SA to decide on the remuneration for such action. The goverment offered 800 million dollars against the 3-4 billion dollars asked by the steel group. [1]
