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Techint sees promising prospects for Mexican industrial segment; avoids job cuts

Tuesday, 28 July 2015 01:39:49 (GMT+3)   |  

Despite the competition with Chinese steel, Argentinian-Italian group Tenaris Techint is optimist about the development of nation’s industrial sector, a top executive told local media.

In a visit to a company’s plant in Mexico, Paolo Rocca, CEO at Techint, said the Latin American country will soon start offering big business opportunities. The executive also labeled as “positive” the recent measures the nation’s government, along with Canacero, have recently released, in an effort to “protect” the country’s steel industry.

“It seems that the Economy Secretariat [SE] is doing a good job, which is to develop action packages that are able to attack many mechanisms,” the executive said, adding “these unfair practices cause damages for the Mexican steel industry and harm all the supply chain. The focus is to identify the areas which have been affected and take the actions.”

Rocca discarded the possibility of more layoffs at the company’s plants in the country.  Maximo Vedoya, president at Ternium in Mexico, confirmed the company doesn’t expect to cut more jobs, but admitted the nation’s steel industry still feels the impact of the on-going competition with Chinese steel.

Rocca said SE’s measures are “nourishing” and added Ternium will do whatever it takes to “avoid more job cuts.”

 


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