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6

Tenaris continues to strengthen its competitive position, investing heavily in research

and the continuous improvement of its talented workforce.

Cold rolling and downstream processing of flat steel in Argentina continued to

grow through the 1980s. In 1992, the Group acquired from the state a majority share

of Somisa, the largest integrated flat steel plant in Argentina, and brought it up rapidly

to international production standards through a major investment program.

Steel coating and processing capacities were also expanded in the 1990s through

investments and acquisitions. All Argentine flat steel facilities were then integrated

in Siderar. In 1997, the Group participated in a consortium that acquired a controlling

share of Sidor, the largest steel company in Venezuela.

In 2005, Ternium was created with the integration of Siderar, Sidor and Hylsa.

Acquired in August of that year, Hylsa was the largest steel manufacturer in Mexico,

and the one with the highest level of vertical integration, from the extraction and

processing of iron ore to the manufacturing of high value-added steel products.

In February 2006, Ternium was listed on the New York Stock Exchange.

In 2007, Ternium took control over Grupo Imsa, a company with a strong presence

in Mexico and processing facilities in Guatemala and the United States.

In 2008, the Venezuelan government nationalized Sidor.

In 2010, Ternium completed the acquisition of Colombia-based Ferrasa, a leading long

and flat steel products processor and distributor. That same year, Ternium and Nippon

Steel signed an agreement to form a company in Mexico for the manufacturing and sale

of hot-dip galvanized and galvannealed steel sheets to serve the Mexican automobile

market.

In January 2012, Ternium became part of the control group of Usiminas, the largest

flat steel producer in Brazil with 9.5 million tons of crude steel capacity. The company

has strategically located facilities near the main consumers of steel in Brazil and iron

ore mines in the Serra Azul region.

In September of 2013, Ternium inaugurated a modern industrial center in Pesquería,

Mexico, a project developed by Ternium and Tenigal, the joint venture between

Ternium and Nippon Steel & Sumitomo Metal Corporation. The industrial center

produces high-end steel mainly for the automotive industry, with annual processing

capacity of 1.5 million tons of cold-rolled steel and 400,000 tons of galvanized steel.

In February 2017, Ternium announced a definitive agreement with the German

conglomerate thyssenkrupp AG to acquire, for a total 1.26 billion euros plus debt, a

100% interest in thyssenkrupp Slab International B.V. and its wholly-owned subsidiary

CSA Siderúrgica do Atlântico Ltda. in Brazil. The acquisition, completed in September