SOURCE: Ternium S.A.

April 17, 2008 08:39 ET

Ternium Updates Market on Sidor Nationalization Process

LUXEMBOURG--(Marketwire - April 17, 2008) - Ternium S.A. (NYSE: TX) announced today that, following the confirmation of the Venezuelan government's decision to nationalize Sidor, Ternium, Sidor and the Venezuelan government have entered into an agreement providing for the creation of a transition committee, composed of representatives of the government, the union and Sidor's Class B shareholders. This committee will oversee Sidor's operations during the transition period until the nationalization is completed, acting in coordination with Sidor's board of directors. The discussions among representatives of Ternium and the Venezuelan government regarding the terms and conditions under which all or a significant part of Ternium's interest in Sidor should be transferred to the government are expected to begin today.

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 one of the leading steel companies in the Americas, offering a wide range of flat and long steel products. With its main operations in Mexico, Venezuela and Argentina and 21,000 employees, Ternium had in 2007 annual sales of approximately US$8 billion and annual shipments of approximately 10 million tons of finished steel products. More information about Ternium is available at www.ternium.com.

Contact Information

  • Sebastián Martí
    Ternium
    Investor Relations
    USA +1 (866) 890 0443
    Mexico +52 (81) 8865 2111
    Argentina +54 (11) 4018 2389
    www.ternium.com