Ternium
Encyclopedia
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.
), 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. 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 13,900 people worldwide.
Currently Termium is one of the main shareholders of the Brazilian siderurgy company Usiminas
. The Uisminas control is divided between Nippon Steel
, Ternium
and CSN
.
, was nationalized by the Venezuelan government following a April 2008 resolution of the National Assembly of Venezuela
. This move followed a series of industrial disputes over pay which had paralyzed the company for over year. 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.
Steel
Steel is an alloy that consists mostly of iron and has a carbon content between 0.2% and 2.1% by weight, depending on the grade. Carbon is the most common alloying material for iron, but various other alloying elements are used, such as manganese, chromium, vanadium, and tungsten...
products with production centers in Argentina
Argentina
Argentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...
, Mexico
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
, Guatemala
Guatemala
Guatemala is a country in Central America bordered by Mexico to the north and west, the Pacific Ocean to the southwest, Belize to the northeast, the Caribbean to the east, and Honduras and El Salvador to the southeast...
, Colombia
Colombia
Colombia, officially the Republic of Colombia , is a unitary constitutional republic comprising thirty-two departments. The country is located in northwestern South America, bordered to the east by Venezuela and Brazil; to the south by Ecuador and Peru; to the north by the Caribbean Sea; to the...
and the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. 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 (ArgentinaArgentina
Argentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...
), Sidor (Venezuela
Venezuela
Venezuela , officially called the Bolivarian Republic of Venezuela , is a tropical country on the northern coast of South America. It borders Colombia to the west, Guyana to the east, and Brazil to the south...
) and Hylsa (Mexico
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
). Siderar
Roberto Rocca
Roberto Rocca was a prominent Italian Argentine businessman.-Overview:Roberto Rocca was born in Milan, in 1922, as the eldest son of Maria Queirazza and Agostino Rocca...
was established by Argentine-based industrial conglomerate Techint
Techint
Techint is a conglomerate multinational company founded in Milan in September 1945 by Italian industrialist Agostino Rocca and headquartered in Milan and Buenos Aires . Techint comprises more than 100 companies operating worldwide in the following areas of business: Engineering & Construction,...
in 1992 following the privatization
Privatization
Privatization is the incidence or process of transferring ownership of a business, enterprise, agency or public service from the public sector to the private sector or to private non-profit organizations...
of Somisa, and Ternium still trades on the Buenos Aires Stock Exchange
Buenos Aires Stock Exchange
The Buenos Aires Stock Exchange is the organization responsible for the operation of Argentina's primary stock exchange located at Buenos Aires CBD. Founded in 1854, is the successor of the Banco Mercantil, created in 1822 by Bernardino Rivadavia.Citing BCBA's self definition: "It is a...
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. Techint remains the principal owner of Ternium with 62% of shares followed by the Italian-Argentine company Tenaris
Tenaris
Tenaris is a global manufacturer and supplier of seamless and welded steel pipe products and provider of pipe handling, stocking and distribution services to the oil and gas, energy and mechanical industries...
11.0%, and 24.0% in the form of common shares listed in the NYSE as ADS
ADS
ADS or Ads may refer to:In computing:* Advanced Design System, an EDA tool from Agilent EEsof EDA* Advantage Database Server, a Relational Database Management System* Alternate data stream, a filesystem fork in Microsoft NTFS...
. The firm was listed on the NYSE on February 1, 2006, and employs approximately 13,900 people worldwide.
Currently Termium is one of the main shareholders of the Brazilian siderurgy company Usiminas
Usiminas
Usiminas is a large producer of steel in the Americas, with major steel mills in Brazil with a total capacity of 9.5 million metric tons of steel per year. The company accounts for 28 % of total steel output in Brazil. Usiminas has an installed capacity of producing 9.5 million tons of crude...
. The Uisminas control is divided between Nippon Steel
Nippon Steel
, also referred to as , was formed in 1970. Nippon Steel Corporation is the world's 4th largest steel producer by volume.-Early years:Nippon Steel was created by the merger of two giants, Yawata Iron & Steel and Fuji Iron & Steel...
, Ternium
Ternium
Ternium is a manufacturer of flat and long steel products with production centers in Argentina, Mexico, Guatemala, Colombia and the United States...
and CSN
Companhia Siderúrgica Nacional
Companhia Siderúrgica Nacional is the second major steel-maker company in Brazil. Its main plant is located in the city of Volta Redonda, in the state of Rio de Janeiro...
.
Nationalization of Sidor
Ternium's Venezuelan branch, SidorSidor
Siderúrgica de Orinoco C.A. "Alfredo Maneiro" is the biggest Venezuelan steel corporation. The company is situated in an industrial zone in Ciudad Guayana, Bolívar State, near the Orinoco River. Major iron deposits were found in the area in 1926 and 1947...
, was nationalized by the Venezuelan government following a April 2008 resolution of the National Assembly of Venezuela
National Assembly of Venezuela
The National Assembly is the legislative branch of the Venezuelan government. It is a unicameral body made up of a variable number of members, who are elected by "universal, direct, personal, and secret" vote partly by direct election in state-based voting districts, and partly on a state-based...
. This move followed a series of industrial disputes over pay which had paralyzed the company for over year. 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.