Latin American flat and long steel producer Ternium has disclosed that it plans to invest over $1.4 billion by 2009 in an effort to increase its steel
production to 12 million metric tons.
Ternium CEO Mr. Daniel Novegil announced the investment plan at an annual meeting of the International Iron and Steel Institute (IISI) in Buenos Aires. He stated that the forecasted increase in steel demand in
Argentina led the company to raise its initial investment in the South American country to $800 million over the next three years, from an original planned investment of $680 million.
The company shipped 2.4 million metric tons of long and flat steel products in the second quarter of this year. Ternium owns subsidiaries Hyslamex in
Mexico, Siderar in
Argentina and Sidor in
Venezuela.