Ternium SA announced that it acquired from CVRD International SA, a wholly-owned subsidiary of Companhia Vale do Rio Doce (CVRD), 16,860,000 shares, or 4.85%, of Siderar SA for an aggregate purchase price of US$107.5 million. The deal was conducted in a private transaction.

The price per share paid to CVRD is US$6.376, which reflects a discount to market price. Upon consummation of the transaction, Ternium has increased its ownership in Siderar to 211,701,012 shares, or 60.93%.

Ternium is one of the leading steel companies in the Americas, offering a wide range of flat and long steel products. Ternium has operating locations in Mexico, Argentina and Venezuela that provide it with a strong position from which to serve its core markets. In addition, Ternium reaches the global markets through its own distribution network.