IMSA In Talks With Ternium

IMSA, Mexico’s largest steel-maker, has announced it is in talks with Luxembourg-based Ternium, the largest steel-producer in the region, over a possible sale or strategic alliance. Ternium, which is owned by Argentina’s Techint, has been eying the Mexican business since last year, according to market reports. In a filing with the Mexican Stock Exchange, IMSA said it had also attracted interest from other companies in the sector as part of the trend of consolidation seen currently in the steel industry worldwide. Last October, the Canales Clariond family took control of IMSA after upping its stake to 86% when it paid just over $1 billion for a further 43% stake.