Ternium Announces Completion of Usiminas’ Capital Increase Process
July 19 2016 - 4:05PM
Business Wire
Ternium S.A. (NYSE:TX) announced today that, following the
completion of the subscription process in connection with the
previously-announced issuance of 200 million ordinary shares of
Usinas Siderúrgicas de Minas Gerais – Usiminas at BRL5.0 per share,
Usiminas’ extraordinary general shareholders’ meeting homologated
the resulting BRL 1 billion capital increase and authorized the
issuance of such ordinary shares.
Throughout the various stages of the subscription process,
Ternium and its subsidiaries Siderar and Prosid have subscribed, in
the aggregate, to 76.4 million ordinary shares for a total amount
of BRL382.2 million (approximately USD110.9 million). In addition,
on April 20, 2016, Ternium and its subsidiaries subscribed, in the
aggregate, to 8.5 million preferred shares for a total amount of
BRL10.9 million (approximately USD3.1 million).
Following the issuance of these ordinary shares, Ternium and its
subsidiaries will own a total of 242.6 million ordinary shares and
8.5 million preferred shares, representing 20.5% of Usiminas’
capital, and the T/T Group (including Ternium, Siderar, Prosid and
Tenaris S.A.’s subsidiary Confab) will own 39.6% of Usiminas’
ordinary shares and 1.8% of Usiminas’ preferred shares.
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/20160719006644/en/
TerniumSebastián Martí, +1 (866) 890 0443 or +54 (11)
4018 2389Investor Relationswww.ternium.com
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