Ternium
{{Short description|Steel company founded in Luxembourg}}
{{Infobox company
| name = Ternium S.A.
| logo = Ternium_logo.svg
| type = Public
| traded_as = {{BCBA|TXAR}}
{{NYSE|TX}}
MERVAL component
| caption =
| foundation = {{start date and age|2005}}
| 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 = {{increase}} US$17.610 billion (2023)
| net_income = {{decrease}} US$676 million (2023)
| assets = {{increase}} US$24.179 billion (2023)
| equity = {{increase}} 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.
| num_employees = 34,458, including 17,138 in Brazil and 10,103 in Mexico (2023)
| homepage = {{url|https://www.ternium.com/}}
| footnotes = {{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/0001342874/000134287424000018/tx-20231231.htm | title=Ternium S.A. 2023 Form 20-F Annual Report | publisher=U.S. Securities and Exchange Commission | date=May 28, 2024}}
}}
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. 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.
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.
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 of Mexico.
In 2006, Ternium was listed on the New York Stock Exchange.
In 2007, Ternium acquired Grupo IMSA, expanding its operations into Guatemala and the United States.{{cite news | url=https://www.reuters.com/article/imsa-ternium-idUSN3019023020070430/ | title=Ternium to take control of Mexico's IMSA | work=Reuters | date=April 30, 2007}}
In April 2008, after a series of worker disputes over pay which led to strike actions, Sidor was nationalized by the government of Venezuela.{{Cite news | url=https://www.reuters.com/article/companyNewsAndPR/idUSN2642760420080427/ | title=Venezuela says Ternium Sidor stake worth $800 mln | first1=Deisy | last1=Buitrago | first2=Brian | last2=Ellsworth | editor-first=Sandra | editor-last=Maler | work=Reuters | date=26 April 2008}}{{Cite news | url=https://www.reuters.com/article/ousivMolt/idUSN3025891220080131/ | title=Thousands strike at Venezuela's Sidor steel | first1=Fabian Andres | last1=Cambero | first2=Frank Jack | last2=Daniel | editor-first=Michael | editor-last=Urquhart | work=Reuters | date=30 January 2008}} In May 2009, compensation of US$1.65 billion was paid for Ternium's 59.7% stake in Sidor.{{Cite news | url=https://www.aist.org/ternium-completes-transfer-of-sidor-shares-to-venezuela | title=Ternium Completes Transfer of Sidor Shares to Venezuela | work=Association for Iron and Steel Technology | date=May 8, 2009}}
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.{{Cite news | url=https://www.aist.org/ternium-to-acquire-controlling-interests-in-steel-companies-in-colombia-and-panama | title=Ternium to Acquire Controlling Interests in Steel Companies in Colombia and Panama | work=Association for Iron and Steel Technology | date=April 12, 2010}}
In 2017, Ternium acquired CSA Siderúrgica do Atlântico for €1.4 billion and renamed it Ternium Brazil.{{Cite press release | url=https://www.globenewswire.com/news-release/2017/09/07/1113912/0/en/Ternium-completes-acquisition-of-CSA-Sider%C3%BArgica-do-Atl%C3%A2ntico.html | title=Ternium completes acquisition of CSA Siderúrgica do Atlântico | publisher=GlobeNewswire | date=September 7, 2017}}
In July 2023, Ternium increased its ownership in Usiminas to 51.5%.{{Cite press release | url=https://www.accessnewswire.com/newsroom/en/industrial-and-manufacturing/ternium-completes-acquisition-of-additional-participation-in-usiminas-control-group-765333 | title=Ternium Completes Acquisition of Additional Participation in Usiminas Control Group | publisher=Access Newswires | date=3 July 2023}}
References
{{Reflist}}
External links
- {{Official website|https://www.ternium.com/}}
{{MERVAL companies}}
{{Authority control}}
Category:Companies based in Luxembourg City
Category:Companies listed on the Buenos Aires Stock Exchange
Category:Companies listed on the New York Stock Exchange
Category:Luxembourgian companies established in 2005
Category:Manufacturing companies established in 2005
Category:Manufacturing companies of Argentina
Category:Manufacturing companies of Mexico