Ternium acquires remaining shares of Colombian subsidiary

On Tuesday, Ternium signed a definitive agreement to acquire the remaining minority interest in Ferrasa, the company’s Colombian subsidiary, for a total of US$74 million.
In a statement, the company said that the transaction is subject to customary market conditions, and is expected to close during the second quarter of 2015. Prior to this transaction, Ternium already fully consolidated assets and liabilities, the statement said.

Ferrasa is a leading processor and distributor of long steel products and plans in Colombia and a producer of steel scrap, with an annual production capacity of finished steel of about 480,000 tons and annual sales of 600,000 tons, of which approximately corresponds to 70 percent of long products and 30 percentfor flat and tubular products, used mainly in the construction sector.

Since August 25, 2010, Ternium has maintained a 54 percent majority stake in Ferrasa.