Latin America-focused steelmaker Ternium said in a conference call with analysts it will invest $650 million in Capex this year. As for 2019, the company plans to invest another $1 billion. The company said it invested about $102 million in Q1.
“Next year, we will reach the peak of our Capex in regards to the two facilities that we're building in Mexico. That should be around $1 billion,” said Ternium’s CFO, Pablo Brizzio.
Ternium CEO Maximo Vedoya said the expansion project at the Pesqueria facility is “advancing as planned.”
“The new coating lines will enable us to grow our participation in value-added market, mostly displacing imports, and should be ready by mid-2019. On the other hand, the hot rolling mill will allow us a far greater level of integration with our Brazilian facility after its completion by the end of 2020,” he said.