Ternium S.A. (ADR) (NYSE:TX)
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A steel company in America, produces and distributes a range of semi-finished and finished steel products, including value-added steel products.
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A steel company in America, produces and distributes a range of semi-finished and finished steel products, including value-added steel products.
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Beaten down TX could get positive news on Wed. Jan. 28th
Venezuela negotiations with Ternium were to conclude within 15 days, that puts it at this Wed.
Venezuela may offer Ternium stake in steel maker
Tuesday January 13, 4:01 pm ET
Venezuela could offer Argentine-Italian conglomerate 10 percent stake in steel maker CARACAS, Venezuela (AP) -- Venezuela is mulling the possibility of offering Ternium SA a 10 percent stake in its largest steel maker. Ternium is a subsidiary of Argentine-Italian conglomerate Techint.
Venezuela nationalized the Sidor steel maker last year, but the government of President Hugo Chavez is still negotiating conspensation payment with Ternium, which owned 60 percent of Sidor.
Mining Minister Rodolfo Sanz said Tuesday that Venezuela could offer Ternium minority ownership of Sidor as part of payment.
Sanz said he expects negotiations with Ternium to conclude within 15 days.
Chavez has moved to nationalize key industries in Venezuela, including the South American country's largest telephone company, electric utilities and oil fields.