Ternium

Ternium

Ternium (nyse2|TX) is a steel maker in the Americas that produces flat and long steel products. Ternium was formed by the consolidation of three companies: Siderar (Argentina), Sidor (Venezuela) and Hylsa (Mexico). The company takes it name from the Latin words Ter (three) and Eternium (eternal) in reference to the integration of the three steel mills. Ternium is a division of Argentina based Techint group and employs over 18,000 people worldwide.

Expropriation

The Venezuelan branch, Sidor, was nationalised by the Venezuelan government in May 2008, and the government was in talks with Ternium SA to decide on the remuneration for such action. The government offered 800 million dollars against the 3-4 billion dollars asked by the steel group. [ [http://www.rnv.gov.ve/noticias/index.php?act=ST&f=31&t=66611 Radio Nacional de Venezuela -> Minister Rodolfo Sanz: Value of Ternium Sidor is of $800 million ] ]

References

External links

* [http://www.ternium.com Ternium home page]
* [http://www.reuters.com/article/mergersNews/idUSN3019023020070430 Ternium to acquire Mexican steelmaker Grupo IMSA]
* [http://article.wn.com/view/2008/05/01/Chavez_orders_expropriation_of_Venezuelas_largest_steel_make_c/ Expropriation by Chavez.]


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