With an investment of US$1.1 billion, global conglomerate Ternium inaugurated the Ternium Industrial Center in the municipality of Pesquería, Nuevo León, México on Wednesday. Mexican President Enrique Peña Nieto and Paolo Rocca, Chairman of the Board and CEO of Ternium and chairman of the Board of Directors of Tenaris, were on hand for the opening.
The complex produces highly specialized steel on two lines that complement the process: cold rolling sheet and continuous galvanized sheet. Additionally, the plant is an alliance between Ternium, with a 51 percent stake, and Nippon Steel & Sumitomo Metal Corporation, with 49 percent--the plant of its kind in operation.
It will have an annual production of 400,000 tons, equivalent to 38 percent of what assemblers currently import in Mexico. Last year the country produced 2.88 million light vehicles, according to the Mexican Association of the Automotive Industry. Coupled with this plant, last month the company announced the construction of a thermoelectric plant in this municipality with an investment of US$1 billion.