| Ternium S.A. | |
| Type: | Public |
| Traded As: | MERVAL component |
| Location: | Luxembourg, Luxembourg |
| Key People: | Paolo Rocca, Chairman Daniel Novegil, CEO |
| Industry: | Steel |
| Products: | Steel Cast iron Coke (fuel) Slag |
| Production: | 9.764 million tons of steel and 3.310 million tons of iron ore |
| Revenue: | US$9.700 billion (2017) |
| Net Income: | US$1.022 billion (2017) |
| Assets: | US$12.122 billion (2017) |
| Equity: | US$5.852 billion (2017) |
| Owner: | Techint (62%) Tenaris (11.0%) |
| Num Employees: | 21,255 (2017) |
| Footnotes: | [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. 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]
The company takes its name from the Latin words Ter (three) and Eternium (eternal) in reference to the integration of the three steel mills.
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]
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]