Siderar to invest more than US$250mn in 2014 - CEO

Bnamericas Published: Tuesday, December 24, 2013

Argentine flat steel producer Ternium Siderarwill invest more than US$250mn in its projects in 2014, CEO Martín Berardi said in an interview with local radio station Radio U.

The company is currently "adjusting" its spending plans for the year, which will be voted on by the board in February, and expects to maintain investment at a similar level to that in 2013, which is "certainly going to be higher than US$250mn," Berardi said.


The company expects to launch a new continuous casting line in Argentina in February, he added. Electromechanical assembly of the project was completed in December, with commissioning planned for January and February before increasing production in March.

Completion of the project will represent a turning point for the company's steelworks, Berardi said.


While there is "uncertainty" ahead for the steel sector, the company is "moderately optimistic," and "in the long term we see that we have to continue growing," he added.

Siderar, Argentina's largest steelmaker, is a subsidiary of Luxembourg-based steel group Ternium, and manufactures and processes a wide range of flat and steel products for customers in the construction, home appliances, container, food, energy and automotive markets.

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: Mining & Metals (Argentina)

Get critical information about thousands of Mining & Metals projects in Latin America: what stages they're in, capex, related companies, contacts and more.

  • Project: El Pachón
  • Current stage: Blurred
  • Updated: 1 month ago
  • Project: Rio Grande
  • Current stage: Blurred
  • Updated: 5 months ago
  • Project: Sarita Este
  • Current stage: Blurred
  • Updated: 1 month ago
  • Project: Ivana
  • Current stage: Blurred
  • Updated: 2 months ago

Other companies in: Mining & Metals (Argentina)

Get critical information about thousands of Mining & Metals companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Imec Ingeniería 360°
  • The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
  • Company: Cerro Vanguardia S.A.  (CVSA)
  • The mining company Cerro Vanguardia, S.A. (CVSA), based in Argentina, is engaged in the exploration, mining and processing of gold and silver in the mining concession Cerro Vang...
  • Company: Posco Argentina S.A.U.  (Posco Argentina)
  • Posco Argentina, a local subsidiary of the global steel producer based in the Republic of Korea, owns the comprehensive lithium project Sal de Oro, located in the Salar del Muer...
  • Company: Siemens S.A.  (Siemens Argentina)
  • Siemens Argentina is the local unit of German electrical engineering and electronics firm Siemens. Siemens has been present in the country since 1857 and has offices in Buenos A...
  • Company: Minera del Altiplano S.A.  (MdA)
  • Argentine firm Minera del Altiplano S.A. (MdA), a subsidiary of US-based chemical manufacturer FMC Corporation, is engaged in the production of lithium derivatives, such as carb...
  • Company: Eramine Sudamérica S.A.  (Eramine Sudamérica)
  • Eramine Sudamerica S.A. (Eramine), a subsidiary of French mining company Eramet, is focused on the development of lithium resources in Argentina. The company was founded in 2010...