Ternium

Ternium S.A.

Type	Public company
Traded as	BCBA: ERAR NYSE: TX MERVAL component
Industry	Manufacturing
Founded	(2005)
Headquarters	Luxembourg, Luxembourg City
Key people	Paolo Rocca, Chairman Daniel Novegil, CEO
Products	Steel Cast iron Coke (fuel) Slag
Revenue	US$ 8.608 billion (2012)[1]
Operating income	US$ 915.9 million (2012)[1]
Net income	US$ 187.2 Million (2012)[1]
Total equity	US$ 5.420 billion (2012) [1]
Employees	16,600 [1]
Parent	Techint
Website	Ternium

Ternium is a manufacturer of flat and long steel products with production centers in Argentina, Mexico, Guatemala, Colombia and the United States. It is the leading steel company in Latin America with highly integrated processes to manufacture steel and value-added products.

Overview

Ternium was formed in 2005 by the consolidation of three companies: Siderar (Argentina), Sidor (Venezuela) and Hylsa (Mexico). Siderar was established by Argentine-based industrial conglomerate Techint in 1992 following the privatization of Somisa, and Ternium still trades on the Buenos Aires Stock Exchange by the Siderar name. The company takes it name from the Latin words Ter (three) and Eternium (eternal) in reference to the integration of the three steel mills. A fourth unit, Grupo IMSA, was acquired in 2007, by which Ternium expanded its operations into Guatemala and the United States.^[2] Techint remains the principal owner of Ternium with 62% of shares followed by the Italian-Argentine company Tenaris 11.0%, and 24.0% in the form of common shares listed in the NYSE as ADS. The firm was listed on the NYSE on February 1, 2006, and employs approximately 16,600 people worldwide.^[1]

Currently Ternium is one of the main shareholders of the Brazilian siderurgy company Usiminas. The Usiminas control is divided between Nippon Steel, Ternium and CSN.

Nationalization of Sidor

Ternium's Venezuelan branch, Sidor, was nationalized by the Venezuelan government following an April 2008 resolution of the National Assembly of Venezuela.^[3] This move followed a series of industrial disputes over pay which had paralyzed the company for over year.^[4] In early 2009 compensation of around US$ 1.65 bn was agreed on for the nationalization of Ternium's 59.7% stake, with Ternium keeping a 10% stake in the company.^[5]

v t e MERVAL Companies of Argentina Aluar Banco Francés Banco Macro Edenor Grupo Financiero Galicia Pampa Energía Petrobras Petrobras Argentina Siderar Sociedad Comercial del Plata Telecom Argentina Tenaris YPF

References