Ternium Subscribes to Additional Shares in Usiminas Capital Increase
By Business Wire News
By Business Wire News
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.
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.
Sebastián Martí, +1 866-890-0443
+54 (11) 4018 2389