Ternium Participates in Usiminas Capital Increase
May 23 2016 - 4:15PM
Business Wire
Ternium S.A. (NYSE: TX) announced today, by the expiration of
the initial subscription round of the proposed issuance of 200
million ordinary shares of Usinas Siderúrgicas de Minas Gerais –
Usiminas at an amount of BRL5.0 per share, that each of the
entities within the T/T Group (including Ternium, Siderar and its
wholly-owned subsidiary Prosid) has exercised its preemptive rights
in connection with the share issuance and has also indicated its
willingness to subscribe ordinary shares not subscribed by
Usiminas’ current shareholders up to a maximum number to be
specified in due course.
Accordingly, the T/T Group has subscribed today to 38.7 million
ordinary shares for a total amount of BRL193.5 million, of which
Ternium and its subsidiaries Siderar and Prosid have subscribed to
33.6 million for a total amount of BRL168.2 million (approximately
USD47.7 million).
The term for indicating the maximum number of ordinary shares to
be subscribed to under the second round is expected to expire on
June 14, 2016.
Forward Looking Statements
Some of the statements contained in this press release are
“forward-looking statements”. Forward-looking statements are based
on management’s current views and assumptions and involve known and
unknown risks that could cause actual results, performance or
events to differ materially from those expressed or implied by
those statements. These risks include but are not limited to risks
arising from uncertainties as to gross domestic product, related
market demand, global production capacity, tariffs, cyclicality in
the industries that purchase steel products and other factors
beyond Ternium’s control.
About Ternium
Ternium is a leading steel producer in Latin America, with an
annual production capacity of approximately 11.0 million tons of
finished steel products. The company manufactures and processes a
broad range of value-added steel products for customers active in
the construction, automotive, home appliances, capital goods,
container, food and energy industries. With production facilities
located in Mexico, Argentina, Colombia, the southern United States
and Guatemala, Ternium serves markets in the Americas through its
integrated manufacturing system and extensive distribution network.
In addition, Ternium participates in the control group of Usiminas,
a Brazilian steel company. More information about Ternium is
available at www.ternium.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160523006318/en/
TerniumSebastián Martí, +1 866-890-0443Investor Relations+54
(11) 4018 2389www.ternium.com
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