Usiminas buys 16 percent share of Ternium

Usiminas buys 16 percent share of Ternium

Usinas Siderurgicas de Minas Gerais SA (Usiminas), South America’s largest flat rolled steelmaker announced last week that it would acquire 16 percent of newly formed steel holding company Ternium. Ternium is a new Latin American steelmaking conglomerate. It was formed after the Techint Group recently acquired Mexican steelmaker Hylsamex. The new company will produce approximately 12 million metric tons and an estimated market capitalization of $5 billion.