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Ternium S.A. reports recurring developments as a Luxembourg steel producer whose American Depositary Shares trade on the NYSE under TX. Company news centers on Steel and Mining segment results, IFRS-based operating data, dividends on ADSs, and annual meeting materials for shareholders and ADS holders.
Updates also cover industrial investment, including the Pesquería, Mexico industrial center, low-carbon steelmaking initiatives, and ownership matters involving Usiminas. Ternium supplies advanced steel products to manufacturing industries and the construction sector, while its mining activities include iron ore products.
Ternium S.A. (NYSE:TX) announced a $1.0 billion bid to acquire a 28.73% stake in Ternium Mexico S.A. de C.V. from its subsidiary Ternium Argentina S.A. (BYMA: TXAR). This acquisition will streamline the corporate structure, enhancing management efficiency and stakeholder analysis. Currently, Ternium owns 71.27% of Ternium Mexico and 62.49% of Ternium Argentina. The transaction requires 95% approval from Ternium Argentina's shareholders and includes a $900 million dividend. If approved, the deal is expected to finalize in Q1 2022.
Ternium S.A. (NYSE:TX) reported a strong performance for Q3 and the first nine months of 2021, with net sales reaching $4.6 billion, a 115% increase year-over-year, driven by a rise in steel shipments to 3.1 million tons. EBITDA for Q3 stood at $1.9 billion, 432% higher than last year, resulting in an EBITDA margin of 41%. Net income was $1.4 billion, marking a significant recovery. For the first nine months, net sales totaled $11.8 billion, a 91% increase, with free cash flow at $1.1 billion. An interim dividend of $0.08 per share has been declared.
Ternium S.A. (NYSE:TX) has signed a memorandum of understanding with Vale S.A. to explore steelmaking solutions aimed at reducing CO2 emissions. The partnership will evaluate the feasibility of investments in an iron ore briquetting plant in Brazil and low-carbon product manufacturing using Tecnored, HYL, and other technologies. This initiative supports Vale's goal to cut 15% of net Scope 3 emissions by 2035 and Ternium's target to lower its CO2 intensity by 20% by 2030. Both companies aim for substantial advancements in environmental sustainability within the steel industry.
Ternium S.A. (NYSE:TX) has been acquitted of all charges in the Notebooks Case involving its Chairman, Paolo Rocca. A first-instance judge ruled that Rocca's involvement does not tarnish his reputation. The decision was uncontested by the prosecutor or the government unit involved. This ruling may strategically strengthen Ternium's position in the market by alleviating potential reputational risks associated with legal challenges.
Ternium S.A. (NYSE:TX) reported strong financial results for Q2 and H1 2021, with net sales reaching $3.92 billion in Q2, up 125% year-on-year, and $7.17 billion for H1, an increase of 78%. Operating income increased significantly to $1.27 billion in Q2 and $2.18 billion for H1. EBITDA was $1.42 billion for Q2 and $2.48 billion for H1, with margins improving to 36% and 35%, respectively. Free cash flow for Q2 was $467 million and $665 million for H1. The net debt position was $0.2 billion, reflecting strong operational performance amid rising steel demand.
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Ternium S.A. (NYSE:TX) held its annual general meeting on May 3, 2021, where all resolutions were unanimously approved. Shareholders endorsed the consolidated financial statements for the year ending December 31, 2020, and a dividend of $0.21 per share, payable on May 11, 2021, to shareholders of record by May 6, 2021. The board of directors was reduced to eight members, all of whom were re-elected. Additionally, PricewaterhouseCoopers was re-appointed as independent auditors for fiscal year 2021.
Ternium S.A. (NYSE:TX) has filed its annual report on Form 20-F for the fiscal year ending December 31, 2020, with the U.S. Securities and Exchange Commission (SEC). The report is accessible via the SEC website and Ternium's official site under the Investor section. Shareholders and interested parties can request a physical copy of the report at no cost. Ternium is recognized as Latin America's leading flat steel producer, serving multiple industries including automotive and construction through its extensive manufacturing and distribution capabilities.
Ternium S.A. (NYSE:TX) announced its annual general meeting of shareholders to be held on May 3, 2021, at 2:30 p.m. CET. Shareholders of Ternium ADSs as of March 29, 2021 can vote through The Bank of New York Mellon. Key documents for the meeting are available on the company's website, including the meeting agenda, proxy statement, and 2020 consolidated financial reports. Shareholders can request copies electronically or visit the company's office in Luxembourg, subject to Covid-19 restrictions.
Ternium S.A. (NYSE:TX) reported its financial results for Q4 and full-year 2020. Steel shipments decreased by 9% year-over-year to 11.36 million tons, while iron ore shipments grew by 6% to 3.8 million tons. Net sales fell 14% to $8.73 billion, with operating income rising 25% to $1.08 billion. The fourth quarter saw a significant recovery with net sales increasing by 15% year-over-year. Notably, the company achieved EBITDA of $1.52 billion, maintaining a margin of 17%. Ternium proposed a $0.21 annual dividend and outlined a decarbonization strategy targeting a 20% reduction in emissions by 2030.