Ternium Clarifies Status of Sidor Nationalization Processadmin
Wednesday, August 20th 2008
Ternium S.A. announced that, following the expiration of the term for the negotiation of the conditions on which all or a significant part of Ternium’s interest in Sidor will be transferred to the Republic of Venezuela, the negotiations with the Venezuelan government are still under way.
Ternium continues to reserve all of its rights under contracts, investment treaties and Venezuelan and international law and to evaluate its options in realizing the fair value of its interest in Sidor.
Ternium is one of the leading steel companies in Latin America, manufacturing and processing a wide range of flat and long steel products for customers active in the construction, home appliances, capital goods, container, food and automotive industries. With its principal operations in Mexico and Argentina, Ternium serves markets in the Americas through its integrated manufacturing system and extensive distribution network. The Company has annual sales of approximately US$10 billion and ships approximately 8 million tons of steel products each year. More information about Ternium is available at www.ternium.com.