Ternium executive rules out joint TK bid

Feb 21, 2013 | 02:54 PM | Ana Paula Camargo

Tags  Ternium, CSA, Usiminas, Siderar, ThyssenKrupp, Daniel Novegil, slab, Ana Paula Camargo

SÃO PAULO — Latin American steelmaker Ternium SA does not plan to join forces with another company for a possible acquisition of ThyssenKrupp AG’s 73.13-percent stake in the 5-million-tonne-per-year Cia. Siderúrgica do Atlântico (CSA) slab plant in Brazil.

"We would not seek (partners for the potential acquisition of) CSA, not even Usiminas (Belo Horizonte, Brazil-based Usinas Siderúrgica de Minas Gerais SA) as it has now other targets, such as its turnaround," Ternium chief executive officer Daniel Novegil said during a conference call with investors and analysts.....

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