Ternium Receives Payment of All Outstanding Amounts in Connection With Sidor's Nationalization
(firmenpresse) - LUXEMBOURG -- (Marketwire) -- 10/10/12 -- Ternium S.A. (NYSE: TX) announced today that it has received payment of the unpaid portion of the agreed-upon compensation for the May 2009 transfer of its interest in Sidor. Ternium received USD136.7 million.
The receipt of this payment resolves the pending dispute with Venezuela relating to the nationalization of Sidor, which was submitted for arbitration before the International Centre for Settlement of Investment Disputes (ICSID).
Ternium is a leading steel company in Latin America, manufacturing and processing a wide range of flat and long steel products for customers active in the construction, home appliances, capital goods, container, food, energy and automotive industries. With its principal operations in Mexico and Argentina, Ternium serves markets in the Americas through its integrated manufacturing system and extensive distribution network. The Company has an annual production capacity of approximately 10.8 million tons of finished steel products. More information about Ternium is available at .
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Datum: 10.10.2012 - 14:00 Uhr
Sprache: Deutsch
News-ID 1159034
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