Ternium, a subsidiary of the Techint group, has completed the acquisition of the remaining stake held by Nippon in Usinas Siderúrgicas de Minas Gerais (Usiminas), one of Brazil's largest steel producers. This acquisition, which amounts to approximately $315.2 million, increases the Techint group's ownership in Usiminas to 92.9%. The deal, initially announced in November, has been formally reported to the National Securities Commission in Brazil, marking a significant strategic move for Ternium in the South American market.

This acquisition comes amid recent controversies surrounding the bidding process for gas pipeline contracts to export from Vaca Muerta to Río Negro, where Indian company Welspun emerged as the winner. The increased control over Usiminas not only strengthens Ternium’s position in the market but could also enhance its capacity to respond to domestic and international steel demand, especially in the wake of fluctuating global steel prices and economic conditions that impact production.

With the consolidation of its stake in Usiminas, Ternium is poised to leverage Brazil's growing steel market potential, which is central to various infrastructure and construction projects in the region. Paolo Rocca’s leadership of this acquisition reflects a broader strategy within the Techint group to expand its footprint and influence in Latin America's industrial landscape, particularly in sectors integral to the continent’s economic development and integration.