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TERNIUM SA (ADR) (TX)
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Ternium S.A. (ADR) : Ternium Completes Acquisition of Participation in Usiminas Control Group

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01/17/2012 | 03:13pm CET
Sebastián Martí Ternium - Investor Relations

+1 (866) 890 0443

+54 (11) 4018 2389 www.ternium.com

Ternium Completes Acquisition of Participation in Usiminas Control Group

Luxembourg, January 17, 2012 -Ternium S.A. (NYSE: TX) announced today that, together with its Argentine subsidiary Siderar and Confab Industrial S.A., a subsidiary of Tenaris S.A. ("TenarisConfab"), it completed the previously announced acquisition of 139.7 million ordinary shares of Usinas Siderúrgicas de Minas Gerais S.A. - USIMINAS ("Usiminas") from Camargo Corrêa, Votorantim and Caixa dos Empregados da Usiminas (Usiminas' employee pension fund - "CEU"), or
27.7% of the voting capital, at a price of BRL36 per ordinary share (approximately USD19). Ternium and Siderar financed their BRL4.1 billion share (approximately USD2.2 billion) with cash on hand and, in the case of Ternium, a USD700 million syndicated term loan.
Following the closing of the transaction, Messrs. Daniel Novegil, Roberto Vidigal and Alcides Morgante were appointed as members of Usiminas' board of directors, together with their alternates, to replace the board members nominated by Camargo Correa and Votorantim. In addition, Usiminas' board of directors appointed Julián Eguren, previously a senior executive with Ternium, as chief executive officer (Diretor-Presidente) of Usiminas.
With strategically located facilities near the main consumers of steel in Brazil and iron ore mines in the Serra Azul region, Usiminas is the largest flat steel producer in the country, with 9.5 million tons of crude steel capacity, and the leader in the Brazilian flat steel market. Usiminas is organized under four main business units: Mining, Steel, Steel Processing and Capital Goods. In 2010, Usiminas had net sales of BRL13.0 billion (approximately USD7.4 billion).

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.

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About Ternium

Ternium is a leading steel company in Latin America, manufacturing and processing a wide range of flat and long steel products for customers active in the construction, home appliances, capital goods, container, food, energy and automotive industries. With its principal operations in Mexico and Argentina, Ternium serves markets in the Americas through its integrated manufacturing system and extensive distribution network. The Company has an annual production capacity of approximately ten million tons of finished steel products. More information about Ternium is available at www.ternium.com.

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Financials ($)
Sales 2017 8 962 M
EBIT 2017 1 409 M
Net income 2017 880 M
Debt 2017 2 230 M
Yield 2017 3,49%
P/E ratio 2017 6,54
P/E ratio 2018 7,50
EV / Sales 2017 0,90x
EV / Sales 2018 0,78x
Capitalization 5 852 M
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Number of Analysts 13
Average target price 36,4 $
Spread / Average Target 25%
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Danie Agustín Novegil Chief Executive Officer & Director
Paolo Rocca Chairman
Oscar Montero Martínez General Director-Planning & Operations
Pablo Brizzio Chief Financial Officer
Roberto Demidchuk Chief Information Officer
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