Overview
- Ternium acquired 100% of TASA from Chile’s CAP for $24.4 million and also purchased $8.2 million in seller-held credits, according to a filing with the Comisión Nacional de Valores.
- After closing, Ternium reconstituted TASA’s board, appointing José Esteban del Boca as chair and naming Renato Catallini, Santiago Lesser, and Darío Roberto Traverso as directors.
- TASA, founded in 1909, operates plants in El Talar (Buenos Aires) and Justo Daract (San Luis) and sells about 42,000 tonnes annually of structural and API-standard tubes.
- The transaction consolidates regional capacity as CAP exits Argentina’s tubing business, aligning with Ternium’s broader expansion moves in the region.
- The steel tube market faces intensifying import competition, particularly from China, in tenders tied to Vaca Muerta and LNG infrastructure, with the government maintaining an open-trade posture.