Ternium S.A., through its subsidiaries, engages in the manufacture and distribution of flat and long steel products. It operates in three segments: Flat Steel Products, Long Steel Products, and Others. The Flat Steel Products segment manufactures and markets flat steel products, including hot rolled coils and sheets, cold rolled coils and sheets, tin plate, welded pipes, hot dipped galvanized and electrogalvanized sheets, and prepainted sheets. The Long Steel Products segment manufactures and markets billets, wire rod, and bars. The Other products segment includes products pig iron and pellets. Ternium sells its products in the United States, Canada, Mexico, Argentina, Brazil, Colombia, Venezuela, and Ecuador, as well as Europe. The company was incorporated in 2003 as Zoompart Holding S.A. and changed its name to Ternium S.A. in 2005. The company is based in Luxembourg, Luxembourg.(1)
The reason why TX has been hammered is the takeover of its Venezualan unit by Chavez.But recent reports suggest that TX will retain a minority stake in the company.I think the stock has been hammered down too much and will rebound.The long term fundamentals of Latin America and attractive valuations driven by short term news flow make it a compelling buy .(2)
1.yahoo finance
http://finance.yahoo.com/q/pr?s=TX
2.Reuters
http://www.reuters.com/article/marketsNews/idINN2141733420080...
$35.92 (04/24/08)
