Ternium cautious regarding acquisitions

Friday, 21 February 2020 21:20:06 (GMT+3)   |   Sao Paulo

Latin American-focused steelmaker Ternium is cautious regarding acquisitions, despite rumors that it could buy Mexican integrated steelmaker Altos Hornos de Mexico (AHMSA), as previously reported by SteelOrbis.

AHMSA has already confirmed it re-appointed Ancira to help the company negotiate an asset sale, which increased the rumors that Ternium would be a potential buyer.

“As for mergers and acquisitions (M&A), we are always looking for acquisitions,” said Ternium CEO, Máximo Vedoya.

“If those acquisitions are in the Americas, we are going to look for them. So that could be a possibility. But we don't have anything today that I can say we are going to do that acquisition or that other,” he noted.

While talking to analysts, Vedoya emphasized Ternium would be “extremely careful” about M&A activities.

“Although the market is looking better in 2020, there are currently a lot of uncertainties. So, we need to be extremely cautious when we analyze any M&A acquisitions and we are going to be extremely cautious when analyzing an M&A acquisition,” the executive added.

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