Ternium Subscribes to Additional Shares in Usiminas Capital Increase
June 09 2016 - 5:07PM
Business Wire
Ternium S.A. (NYSE: TX) announced today, in connection with the
previously-announced issuance of 200 million ordinary shares of
Usinas Siderúrgicas de Minas Gerais – Usiminas at BRL5.0 per share,
that all entities within the T/T Group (including Ternium,
Siderar and its wholly-owned subsidiary Prosid) have exercised
their rights to subscribe to their corresponding portion of
the shares left unsubscribed in the initial subscription round.
Today, Ternium and its subsidiaries Siderar and Prosid
subscribed to 27.8 million ordinary shares for a total amount of
BRL139.1 million (approximately USD41.1 million), and also
indicated their willingness to subscribe to ordinary shares that
remain unsubscribed following the completion of this second
subscription round (if any).
Taking into consideration the ordinary shares subscribed to in
the first round on May 23, 2016, Ternium and its subsidiaries
Siderar and Prosid subscribed to 61.5 million ordinary shares for a
total amount of BRL307.3 million (approximately USD88.7
million).
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/20160609006457/en/
TerniumSebastián Martí, +1 866-890-0443Investor Relations+54
(11) 4018 2389www.ternium.com
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