Buenos Aires, Argentina-based steel producer Siderar announced Monday that its Q2 2011 net profit fell to 576.5 million pesos (US$139 million), a drop of approximately 28 percent from its Q2 2010 net profit of 795.4 million pesos (US$192 million).
Siderar is majority owned by Ternium SA, which is controlled by Argentina's Techint conglomerate and has steel operations in Mexico and Argentina.