The Latin American steelmaker Ternium, the steel subsidiary of the Techint Group, announced that it will acquire the shares of the Brazilian steel and mining company Usiminas held by the Japanese companies Nippon Steel and Mitsubishi.

Ternium will pay US$315.2 million in cash to increase its shares in Usiminas from the current 51.5% to 83.1%. If counted in the shares held by other subsidiaries, the Techint Group will own 92.9% of Usiminas, while the Usiminas employee pension fund will retain the remaining 7.1%.

According to data from the World Steel Association in 2024, the Techint group ranks 28th among the largest firms in the steel sector in terms of capacity, 14.29 million tons, while Usiminas ranks 99th, 3.19 million tons.