Ternium Mexico announced this week that it does not plan to trim its workforce, reduce production levels, or cancel investments in resposne tot he “onslaught of unfair steel imports.”
Maximo Vedoya, CEO of Ternium Mexico, said that decent demand in Mexico and the lack of an economic crisis in the country—at least concerning Ternium-produced products—has allowed the company to sustain employment and production levels.
And although Vedoya admitted that cheaper imports are affecting the profitability of some products, the company is still investing to increase efficiency, as well as safety and environmental sustainability, such as the US$400 million expansion of the company’s Peña Colorada plant in Colima.