Ternium
Ternium S.A. is a manufacturer of flat and long steel products with production centers in Argentina, Brazil, 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. Along with Nippon Steel and Companhia Siderúrgica Nacional, Ternium owns Usiminas of Brazil. The company has an annual production capacity of 12.4 million tons.[1]
| Company type | Public |
|---|---|
| BCBA: TXAR NYSE: TX MERVAL component | |
| Industry | Steel |
| Founded | 2005 |
| Headquarters | Luxembourg, Luxembourg |
Key people | Paolo Rocca, Chairman Daniel Novegil, CEO |
| Products | Steel Cast iron Coke (fuel) Slag |
Production output | 9.764 million tons of steel and 3.310 million tons of iron ore |
| Revenue | US$9.700 billion (2017) |
| US$1.022 billion (2017) | |
| Total assets | US$12.122 billion (2017) |
| Total equity | US$5.852 billion (2017) |
| Owner | Techint (62%) Tenaris (11.0%) |
Number of employees | 21,255 (2017) |
| Website | www |
| Footnotes / references [1] | |
The company takes its name from the Latin words Ter (three) and Eternium (eternal) in reference to the integration of the three steel mills.
History edit
Ternium was formed in 2005 by the consolidation of three companies: Siderar of Argentina, Sidor of Venezuela and Hylsa of Mexico. Siderar was established by Argentine-based industrial conglomerate Techint in 1992 following the privatization of Somisa.
In 2007, Ternium acquired Grupo IMSA, thereby expanding its operations into Guatemala and the United States.[2]
Ternium was listed on the NYSE on February 1, 2006.[3]
Nationalization of Sidor by Venezuelan government edit
Ternium's Venezuelan subsidiary, Sidor, was nationalized by the Venezuelan government following an April 2008 resolution of the National Assembly of Venezuela.[4] This move followed a series of worker disputes over pay which had paralyzed the company.[5] In early 2009, compensation of US$1.65 billion was agreed on for the nationalization of Ternium's 59.7% stake, with Ternium keeping a 10% stake in the company.[6]
References edit
- ^ a b "Ternium S.A. 2017 Form 20-F Annual Report". U.S. Securities and Exchange Commission.
- ^ "Ternium to take control of Mexico's IMSA". Reuters. April 30, 2007.
- ^ "Ternium Celebrates 10 Years on the NYSE" (Press release). Ternium. June 29, 2016.
- ^ Reuters, 26 April 2008, Venezuela says Ternium Sidor stake worth $800 mln
- ^ Reuters, 30 January 2008, Thousands strike at Venezuela's Sidor steel
- ^ Business News Americas, 20 January 2009, Ternium agrees to receive Sidor payment in two installments - Venezuela