Ternium

Last updated
Ternium S.A.
Company type Public
BCBA: TXAR
NYSE:  TX
MERVAL component
Industry Steel
Founded2005;20 years ago (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
RevenueIncrease2.svg US$17.610 billion (2023)
Decrease2.svg US$676 million (2023)
Total assets Increase2.svg US$24.179 billion (2023)
Total equity Increase2.svg US$12.419 billion (2023)
Owner Techint (62.02%)
Tenaris (11.46%)
Inverban Investments (3.01%), all of which are controlled by San Faustin S.A.
Number of employees
34,458, including 17,138 in Brazil and 10,103 in Mexico (2023)
Website www.ternium.com
Footnotes /references
[1]

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. Ternium owns a 51.5% interest in Usiminas of Brazil. The company has an annual production capacity of 15.4 million tons. [1] In 2023, 55% of its sales were from Mexico; 21% of sales were from Argentina; Bolivia, Chile, Paraguay and Uruguay; 13% of sales were from Brazil; and 11% of sales were from the United States, Colombia and Central America. [1]

Contents

Approximately 21% of the company is publicly traded; the remainder is controlled by San Faustin S.A., which is in turn controlled by Rocca & Partners Stichting Administratiekantoor Aandelen San Faustin, a Stichting. [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

Ternium was formed in 2005 by the consolidation of three companies: Siderar of Argentina, Sidor of Venezuela and Hylsa (es) of Mexico.

In 2006, Ternium was listed on the New York Stock Exchange. [1]

In 2007, Ternium acquired Grupo IMSA, expanding its operations into Guatemala and the United States. [1] [2]

In April 2008, after a series of worker disputes over pay which led to strike actions, Sidor was nationalized by the government of Venezuela. [3] [4] In May 2009, compensation of US$1.65 billion was paid for Ternium's 59.7% stake in Sidor. [5]

In August 2010, Ternium acquired a 54% interest in Ferrasa, and in April 2015, Ternium acquired the remainder of the company, which was renamed Ternium Colombia. [1] [6]

In 2017, Ternium acquired CSA Siderúrgica do Atlântico for €1.4 billion and renamed it Ternium Brazil. [7]

In July 2023, Ternium increased its ownership in Usiminas to 51.5%. [8]

References

  1. 1 2 3 4 5 6 7 "Ternium S.A. 2023 Form 20-F Annual Report". U.S. Securities and Exchange Commission. May 28, 2024.
  2. ↑ "Ternium to take control of Mexico's IMSA". Reuters . April 30, 2007.
  3. ↑ Buitrago, Deisy; Ellsworth, Brian (26 April 2008). Maler, Sandra (ed.). "Venezuela says Ternium Sidor stake worth $800 mln". Reuters .
  4. ↑ Cambero, Fabian Andres; Daniel, Frank Jack (30 January 2008). Urquhart, Michael (ed.). "Thousands strike at Venezuela's Sidor steel". Reuters .
  5. ↑ "Ternium Completes Transfer of Sidor Shares to Venezuela". Association for Iron and Steel Technology . May 8, 2009.
  6. ↑ "Ternium to Acquire Controlling Interests in Steel Companies in Colombia and Panama". Association for Iron and Steel Technology . April 12, 2010.
  7. ↑ "Ternium completes acquisition of CSA Siderúrgica do Atlântico" (Press release). GlobeNewswire. September 7, 2017.
  8. ↑ "Ternium Completes Acquisition of Additional Participation in Usiminas Control Group" (Press release). Access Newswires. 3 July 2023.
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