Ternium S.A
On April 13th 2022, US Treasury Secretary Janet Yellen proposed next steps for the United States “friend shoring” plans to allow the US to securely extend market access and lower the risks for the US economy over the long term.
Few countries have benefitted more than Mexico who are uniquely positioned south of the US border with a young working age population and roughly 20% cheaper labour costs versus China. Ternium S.A are well positioned here with 51% of their operations in Mexico while management are optimistic that the next decade will be fruitful for their entire LatAm operations.
“near-shoring is happening and it's development is positive for the USMCA consumption of steel … given sustainability to steel demand in the regions for the years to come” - Maximo Vedoya, CEO of Ternium S.A.
Contents
Busienss Overview
Changing Market Dynamics
Capital Allocation
Financials
Valuation & Expectations
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