FORM 6 - K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a - 16 or 15d - 16 of
the Securities Exchange Act of 1934
As of 4/30/2007
Ternium S.A.
(Translation of Registrant's name into English)
Ternium S.A.
46a, Avenue John F. Kennedy - 2nd floor
L-1855 Luxembourg
(352) 4661-11-3815
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or 40-F.
Form 20-F X Form 40-F
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Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12G3-2(b) under the Securities Exchange Act of
1934.
Yes No
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If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b):
Not applicable
Ternium to Obtain Control of Mexico-Based Grupo Imsa
LUXEMBOURG--(BUSINESS WIRE)--April 30, 2007--Ternium S.A.
(NYSE:TX) announced today that it has entered into a definitive
agreement under which it expects to obtain control of Grupo Imsa
S.A.B. de C.V. in Mexico for a total consideration (equity value) of
approximately US$1.7 billion.
Under the agreement, Ternium, or any of its subsidiaries, will
make a tender offer in accordance with applicable Mexican law for all
of the issued and outstanding share capital of Grupo Imsa at a price
of US$6.40 per share. Concurrently with the consummation of the tender
offer, Grupo Imsa's majority shareholders, owning approximately 90.4%
of Grupo Imsa's issued and outstanding share capital, will have their
shares redeemed in cash at the same price per share.
Ternium will finance the transactions primarily through debt, for
which bank commitments have been secured.
Paolo Rocca, Ternium's Chairman commented: "Upon the completion of
this transaction, Ternium will strengthen its position in North
America, where more than 60% of its revenues will be concentrated. The
integration of Imsa will expand Ternium's industrial capabilities in
value added steel products in Mexico and in the USA, where it will
have a team of more than 13,000 highly trained and committed
employees."
The transaction is subject to Mexican and U.S. antitrust
clearances, approval by the Mexican securities regulator, and other
customary conditions. It is expected to close in the third quarter of
2007.
Forward Looking Statements
Some of the statements contained in this press release are
"forward-looking statements". Forward-looking statements are based on
management's current views and assumptions and involve known and
unknown risks that could cause actual results, performance or events
to differ materially from those expressed or implied by those
statements. These risks include but are not limited to risks arising
from uncertainties as to gross domestic product, related market
demand, global production capacity, tariffs, cyclicality in the
industries that purchase steel products and other factors beyond
Ternium's control.
About Grupo Imsa
Grupo Imsa is a steel manufacturer with operations in Mexico, the
United States and Guatemala. It has an annual production capacity of
2.2 million tons of hot rolled coils, 1.8 million tons of cold rolled
products and 1.7 million tons of galvanized products. In addition,
Grupo Imsa produces panels and other steel products. Grupo Imsa had
net sales of US$3.4 billion in 2006.
About Ternium
Ternium is one of the leading steel companies in the Americas,
producing a wide range of flat and long steel products. With
operations in Mexico, Argentina and Venezuela and 18,000 employees,
Ternium had net sales of US$6.6 billion and a production of 9.0
million tons of finished steel products in 2006.
CONTACT: Ternium
Investor Relations:
Sebastian Marti, 866-890-0443
Mexico: +52 (81) 8865 2111
Argentina: +54 (11) 4018 2389
www.ternium.com
The attached material is being furnished to the Securities and Exchange
Commission pursuant to Rule 13a-16 and Form 6-K under the Securities Exchange
Act of 1934, as amended.
This report contains Ternium S.A.'s press release announcing that it will obtain
control of Mexico-based Grupo Imsa.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
TERNIUM S.A.
By: /s/ Roberto Philipps By: /s/ Daniel Novegil
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Name: Roberto Philipps Name: Daniel Novegil
Title: Chief Financial Officer Title: Chief Executive Officer
Dated: April 30, 2007