Techint

The Organización Techint is a multinational group based in Argentina, founded in 1945 by Italian immigrant Agostino Rocca, who currently holds stock in over 100 engineering, steel, oil, gas and service companies in more than 35 countries. Techint, with its subsidiaries, is the largest steel making company in Latin America, (fifth in the Americas). ¹

A significant part of Techint's core manufacturing might is concentrated in the San Nicolás-Villa Constitución oil-and-steel corridor.

Techint is not limited only to production of steel. They also provide many services for other companies, for example, Telecom Argentina used Techint's services during the 90s when upgrading Argentina's phone systems. Techint installed thousand of underground cables for Telecom (mostly in Buenos Aires).

History

Techint's company name was originally "Compagnia Tecnica Internazionale" (italian, Technical International Company), but was changed shortly after to Techint, its abbreviated telex code. Techint is the world's largest manufacturer of seamless steel pipes, mainly used in the oil industry.

A staple of large engineering projects all over South America, Techint participated in the privatization drive of the early 1990s. Its bids came in second place for the two electrical companies serving the Buenos Aires area, but consortia including Techint prevailed in other segments.

On August 23, 2005, the Techint group bought 99.3% of Mexican Hylsamex for US $2,217 million. In a press release, Techint informed that the Mexican steel manufacturer, and its previous steel manufacturers Siderar (Argentina) and Sidor (Venezuela) would be under a new subsidiary called Ternium, headquartered in Luxembourg.

On April 30, 2007, Ternium, a division of Techint, announced that it had entered into an agreement in which it expects to gain control of Grupo IMSA, a major player in the Mexican steel industry.

Divisions

Tenaris : nyse2|TS A global supplier of tubular products and services used in drilling, completion and production of oil and gas, in process and power plants, and in specialized industrial and automotive applications. Companies owned by the Techint group through Tenaris include: Siderca and Siat (Argentina), Confab (Brazil), Tamsa (Mexico), Algoma (Canada), Dalmine (Italy), Silcotub (Romania) and has a joint venture with NKK (Japan), holding 51% of NKK shares since 1999, the first time a Japanese steel company was under foreign control.
Ternium : A Latin American supplier of flat and long steel products, produced in three integrated steel mills located in Argentina, Venezuela and Mexico, with an overall capacity of nearly 11 million tons per year. The steel mill in Venezuela was nationalised by the government of Hugo Chavez in May 2008.
Techint Engineering Construction : A group of companies rooted in Italy, Argentina, Mexico and other Latin American countries, specialized in the design and construction of pipelines, oil and gas facilities, petrochemical plants, power plants and transmission lines, mining and metal complexes, and other infrastructure and civil projects.
Tenova : Comprised of companies operating in five continents that supply direct reduction plants, melt shops, secondary steel making, reheating furnaces, heat treatment furnaces, strip processing lines, roll grinders, automated roll shops, and bulk material handling systems.
Tecpetrol : Active in oil and gas exploration and production in several Latin American countries.

Tecgas : An investment company and operator of gas transmission and distribution networks in the region. Tecgas holds stakes in Transportadora de Gas del Norte (TGN), Transportadora de Gas del Mercosur (TGM), Transportadora Sul Brasileira de Gas (TSB), Transportadora de Gas del Perú (TgP) and Litoral Gas.
Humanitas : Holds a number of research-committed health care institutions of high complexity in Italy, managed through a patient oriented approach relying on a generalized application of state-of-the-art integrated information technology systems.

Techint's influence in Argentina was, and remains, formidable. Its sheer size and technical prowess allowed it to navigate the numerous economic crises, while being a preferred destination for top engineering graduates. Its "young professionals" training program was considered Argentina's best.

External links

* [http://www.techintgroup.com/default.html Techint group home page]
* [http://www.techint.com Techint Company home page]
* [http://www.tenaris.com/en/default.asp Tenaris home page]
* [http://www.tenovagroup.com/ Tenova home page]
* [http://www.meps.co.uk/viewpoint7-05.htm Article on the steel industry in Latin America]
* [http://www.jfe-holdings.co.jp/en/release/nkk/40-6/art04.html NKK press release on the Joint Venture with the Techint Group (August 1st, 2000)]
* [http://today.reuters.com/stocks/QuoteCompanyNewsArticle.aspx?view=PR&symbol=TS.A&storyID=253764+04-May-2005+BW Article on the acquire of Romanian Donasid S.A. by Tenaris (May 4th, 2005)]
* [http://www.clarin.com/diario/2005/08/23/elpais/p-01803.htm Article on Hylsamex acquisition] (Spanish)
* [http://today.reuters.com/investing/financeArticle.aspx?type=mergersNews&storyID=2005-08-22T210731Z_01_N22493672_RTRIDST_0_MINERALS-ARGENTINA-SIDERAR-UPDATE-1.XML Article on the creation of Ternium (August 22nd, 2005)]
* [http://biz.yahoo.com/bw/070430/20070429005126.html?.v=1 Ternium to Obtain Control of Mexico-Based Grupo Imsa (April 30, 2007]