|
|
Article: Ternium Agrees to Purchase Remaining 50 Percent Stake in Mexico-Based Steel Processor Acerex from Worthington Industries.
- Article from:
- Business Wire
- Article date:
- April 7, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
LUXEMBOURG -- Ternium S.A. (NYSE:TX) announced today that it has reached an agreement to purchase from Worthington Industries (NYSE:WOR) the remaining 50 percent stake it does not already own in Acerex, S. A. de C. V. for US$44.6 million. Upon completion of this transaction, which is expected to happen in the second quarter, Ternium's subsidiary Hylsa S.A. de C.V. will own 100 percent of Acerex. This acquisition is, however, subject to approval by the Mexican competition authorities.
Acerex is a service center dedicated to processing steel to produce short length and thin steel sheets in various widths. It has a total annual production capacity of 544,000 tons. ...