Argentina's leading industrial firm, Techint Group, is willing to buy the government's 26% stake in its steel subsidiary Siderar SAIC (SDDFF, ERAR.BA), according to the conglomerate's top executive Paolo Rocca.

"We are prepared at any moment to acquire the stake" held by pension fund agency Anses, Rocca was quoted as saying by local daily La Nacion at a recent event in Houston.

"It's something we have said in the past and that we reiterate; if you [the government] aren't happy with the management [of the firm] or want to put your money somewhere else, we are disposed to buy the stake," he added.

Techint, which controls Siderar parent Ternium SA (TX) and steel-tube maker Tenaris SA (TS, TEN.MI), is resisting attempts by the administration of President Cristina Fernandez to name a director to Siderar's board.

Anses has actively sought to expand its influence on corporate board rooms after Fernandez issued a decree on April 13 that allowed the pension agency to exercise its full voting rights in the companies in which it owns stakes. Previously, the agency's voting rights were capped at 5%.

Anses became the country's largest institutional investor after the government nationalized the private-pension system at the peak of the 2008-2009 global financial crisis. Today, Anses holds stakes in 42 companies, with its ownership exceeding 20% in 15 firms.

The Buenos Aires Stock Exchange has suspended trading in Siderar shares since Monday after the company said last week it would move ahead with plans to pay dividends for 1.5 billion Argentine pesos ($367 million) even as the government tries to block the payment through the courts.

For its part, Ternium has challenged the presidential decree in the courts.

On Tuesday, Siderar said its first-quarter net profit rose 82% on the year to ARS610 million.

Rocca, who is the grandson of Techint's founder Agostino Rocca, holds the post of chairman of the board at Ternium and Tenaris.

-By Ken Parks, Dow Jones Newswires; 54-11-4103-6740, ken.parks@dowjones.com