Techint to Buy Hylsamex

Argentine steel maker Techint announced plans to buy Mexico’s third largest steel company Hylsamex for $2.25 billion. Grupo Alfa, which holds a 43 percent stake in Hylsamex, has already agreed to sell its stake. Techint is looking to create a new company that will include Hylsamex, Argentine steel maker Siderar and Venezuelan iron and steel group Siderurgica del Orinoco (Sidor).