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LUXEMBOURG / ACCESSWIRE / February 24, 2022 / Ternium S.A. (NYSE:TX) today announced a new investment program at its Pesquería industrial center in Mexico with the aim at broadening its value-added product portfolio.
Ternium's new investment program should help it better serve its customers in the automotive, renewable energy and home appliance industries, as well as in the construction and agricultural sectors. With the expansion of the Pesquería facility's advanced-high-strength and ultra-high-strength steels production capabilities, this initiative will support the company's leading position as a steel supplier in Mexico.
The program consists of a new cold rolling mill, a hot-dip galvanizing line, a push-pull pickling line and new finishing lines with total capital investment of approximately $1 billion and expected start-up of operations in the first half of 2024.
In addition to the new investment program at the Pesquería facility, Ternium recently launched an expansion of its Shreveport facility in the U.S. state of Louisiana, with a second coil coating paint line expected to start-up by mid-2024.
"These new initiatives are consistent with our longstanding strategy to continuously optimize our industrial system in order to capture future market opportunities," said Ternium CEO Máximo Vedoya. "We believe this new investment program will strengthen Ternium's competitive positioning, enable us to replace imports in the Mexican market and better serve our customers with a broader and more technologically advanced product portfolio."
Ternium is Latin America's leading flat steel producer, with operating facilities in Mexico, Brazil, Argentina, Colombia, the southern United States and Central America. The company offers a broad range of high value-added steel products for customers active in the automotive, home appliances, HVAC, construction, capital goods, container, food and energy industries through its manufacturing facilities, service center and distribution networks, and advanced customer integration systems. More information about Ternium is available at www.ternium.com.
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.
Ternium - Investor Relations
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SOURCE: Ternium S.A.