Ternium Completes Sale of Steelscape and Other U.S. Assets
02/04/2008 - Ternium SA subsidiary, IMSA Acero SA de CV has completed the sale of its interests in Steelscape, ASC Profiles, Varco Pruden Buildings, and Metl-Span LLC to BlueScope Steel North America for a total consideration of US$726 million.
Ternium SA subsidiary, IMSA Acero SA de CV has completed the sale of its interests in Steelscape, ASC Profiles, Varco Pruden Buildings, and Metl-Span LLC to BlueScope Steel North America.
BlueScope Steel North America, a subsidiary of BlueScope Steel Ltd., paid a total consideration of US$726 million for the assets.
Ternium will continue to own Steelscape's Shreveport, La., plant, which has already been integrated into its operations. Ternium will also retain its pre-engineered metal buildings and insulated steel panels businesses in Mexico. Ternium sold the other assets after determining that they were no longer a strategic fit with its production system.
“We are very pleased with the completion of this transaction, as it enables us to focus on our core businesses in the Americas,” said Daniel Novegil, Ternium’s CEO. “We will continue working to increase our penetration of attractive market segments in which we believe we can compete and add value to steel-consuming customers.”
Ternium said it will use the proceeds of the sale to prepay financial debt.
Ternium is one of the leading steel companies in the Americas, offering a wide range of flat and long steel products. With 21,000 employees, and main operations in Mexico, Venezuela, and Argentina, Ternium has annual sales of approximately US$10 billion and annual shipments of approximately 12 million tonnes of finished steel products.
