Ternium starts construction of new galvanizing line in Mexico

Ternium, steelmaking subsidiary of Italy-based Rocca Group, has announced the start of construction of a hot dip galvanizing line near Monterrey in Mexico. The plant is managed through Tenigal, a joint venture between Ternium (51 percent) and Japanese steel producer Nippon Steel (49 percent). The planned investment is $350 million, while the plant will initially produce 400,000 mt of galvanized sheets and plates per year, mainly for the automotive industry. The start of production operations is scheduled for 2013. The plant, which will occupy an area of 437 hectares and will employ more than 500 people, will be expanded further at a later stage.
 
Ternium's sales revenues in 2010 reached $7.4 billion. In particular, its steel product sales in the given year totaled 8.1 million mt, with 6.8 million mt for flats and 1.3 million mt for longs. Ternium is a company with high liquidity resulting from the nationalization of Venezuelan subsidiary Sidor. In 2010, the company's operating profit was $1.05 billion. Ternium has a total liquidity of $2.6 billion, while it has debts of $1.9 billion.