Latin America-focused steelmaker Ternium is investing up to $100 million at its Brazilian subsidiary, Ternium Brazil, according to a media report from Diario do Comercio.
Ternium acquired ThyssenKrupp’s former slab producer, Companhia Siderurgica do Atlantico (CSA), in 2017 for EUR 1.5 billion.
A Ternium Brazil executive told Diario do Comercio the company plans to expand Ternium Brazil’s capacity, which is currently at 5 million mt/year, “depending on demand in the global market.”
Usiminas Mecanica, a subsidiary of flats producer Usiminas, is performing a renovation at Ternium Brazil’s sintering unit for an undisclosed amount of money. Ternium Brazil’s forecasted $100 million/year investment currently covers part of Usiminas Mecanica’s equipment upgrade.