Ternium S.A. Thursday announced that it has completed its previously announced acquisition of a 54 percent ownership interest in Colombia-based Ferrasa through a capital contribution in the amount of US$74.5 million. Following the application of part of the proceeds of this capital contribution to repay financial debt, Ferrasa will have consolidated financial debt of approximately US$131 million.
Ferrasa has a 100 percent ownership interest in Sidecaldas, Figuraciones and Perfilamos del Cauca. These companies have combined annual sales of approximately 300,000 tons, including a long steel making and rolling facility with annual production capacity of approximately 140,000 tons.
Ternium has also completed the acquisition of a 54 percent ownership interest in Ferrasa Panamá for US$0.5 million. Ferrasa Panamá is a long steel products processor and distributor based in Panama.
Through these investments Ternium is expanding its business and commercial presence in Colombia, a country that is experiencing significant growth, as well as in Central America.