Ternium S.A. (NYSE: TX) announced today that its subsidiaries Ternium Investments and Ternium Argentina, together with Confab, a subsidiary of its affiliate Tenaris S.A., all of which compose the T/T group within Usiminas control group, have entered into a share purchase agreement to acquire from Nippon Steel Corporation, Mitsubishi and MetalOne (the “NSC group”), pro rata to their current participations in the T/T group, 68.7 million ordinary shares of Usinas Siderúrgicas de Minas Gerais S.A.
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It’s been over eighteen months of work, and an extended series of conversations between all parties about many different projects and proposals to reach the results sought: this is how we moved towards the renegotiation of the concession to operate the fields in northwestern Argentina.
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The project being undertaken by the Techint-SACDE joint venture is speeding ahead with over 1,800 workers, welding equipment and the company’s double-joint plants, all while complying with high-quality standards.
See More At www.techint.com