EXHIBIT 12.1
Principal subsidiaries
The following is a list of Ternium’s subsidiaries at December 31, 2018.
Company | Country of Organization | Main activity | Percentage of ownership at December 31, | ||||||||||||||||||
2018 | 2017 | 2016 | |||||||||||||||||||
Ternium S.A. | Luxembourg | Holding | 100.00 | % | 100.00 | % | 100.00 | % | |||||||||||||
Ternium Investments S.à.r.l. | Luxembourg | Holding | 100.00 | % | 100.00 | % | 100.00 | % | |||||||||||||
Ternium Solutions A.G. (1) | Switzerland | Services | 100.00 | % | 100.00 | % | 100.00 | % | |||||||||||||
Ternium Participaçoes S.A. (formerly Ternium Brasil S.A.) (1) | Brazil | Holding | 100.00 | % | 100.00 | % | 100.00 | % | |||||||||||||
Ternium Investments Switzerland AG (1) | Switzerland | Holding | 100.00 | % | 100.00 | % | 100.00 | % | |||||||||||||
Ternium Internacional España S.L.U. (1) | Spain | Marketing of steel products | 100.00 | % | 100.00 | % | 100.00 | % | |||||||||||||
Ternium USA Inc. (1) | USA | Manufacturing and selling of steel products | 100.00 | % | 100.00 | % | 100.00 | % | |||||||||||||
Ternium Argentina S.A. (2) | Argentina | Manufacturing and selling of flat steel products | 60.94 | % | 60.94 | % | 60.94 | % | |||||||||||||
Impeco S.A. (3) | Argentina | Manufacturing of pipe products | 60.97 | % | 60.97 | % | 60.97 | % | |||||||||||||
Prosid Investments S.A. (4) | Uruguay | Holding | 60.94 | % | 60.94 | % | 60.94 | % | |||||||||||||
Ternium Mexico S.A. de C.V. (5) | Mexico | Manufacturing and selling of steel products | 88.78 | % | 88.78 | % | 88.78 | % | |||||||||||||
Hylsa S.A. de C.V. (6) | Mexico | Manufacturing and selling of steel products | 88.78 | % | 88.78 | % | 88.78 | % | |||||||||||||
Las Encinas S.A. de C.V. (6) | Mexico | Exploration, exploitation and pelletizing of iron ore | 88.78 | % | 88.78 | % | 88.78 | % | |||||||||||||
Ferropak Comercial S.A. de C.V. (6) | Mexico | Scrap services company | 88.78 | % | 88.78 | % | 88.78 | % | |||||||||||||
Transamerica E. & I. Trading Corp. (6) | USA | Scrap services company | 88.78 | % | 88.78 | % | 88.78 | % | |||||||||||||
Técnica Industrial S.A. de C.V. (6) | Mexico | Services | 88.78 | % | 88.78 | % | 88.78 | % | |||||||||||||
Galvacer Chile S.A. (6) | Chile | Distributing company | 88.78 | % | 88.78 | % | 88.78 | % | |||||||||||||
Insamex Ecuador, S.A. (6) | Ecuador | Distributing company | 88.78 | % | 88.78 | % | 88.78 | % | |||||||||||||
Ternium Gas México S.A. de C.V. (7) | Mexico | Energy services company | 88.78 | % | 88.78 | % | 88.78 | % | |||||||||||||
Consorcio Minero Benito Juarez Peña Colorada S.A.de C.V. (8) | Mexico | Exploration, exploitation and pelletizing of iron ore | 44.39 | % | 44.39 | % | 44.36 | % | |||||||||||||
Peña Colorada Servicios S.A. de C.V. (8) | Mexico | Services | 44.39 | % | 44.39 | % | 44.36 | % | |||||||||||||
Exiros B.V. (8) | Netherlands | Procurement and trading services | 50.00 | % | 50.00 | % | 50.00 | % | |||||||||||||
Servicios Integrales Nova de Monterrey S.A. de C.V. (9) | Mexico | Medical and Social Services | 66.14 | % | 66.14 | % | 66.09 | % | |||||||||||||
Ternium Internacional Nicaragua S.A. | Nicaragua | Manufacturing and selling of steel products | 99.38 | % | 99.38 | % | 99.38 | % | |||||||||||||
Ternium Internacional Honduras S.A. de C.V. | Honduras | Manufacturing and selling of steel products | 99.18 | % | 99.18 | % | 99.18 | % | |||||||||||||
Ternium Internacional El Salvador S.A. de C.V. | El Salvador | Manufacturing and selling of steel products | 99.92 | % | 99.92 | % | 99.91 | % | |||||||||||||
Ternium Internacional Costa Rica S.A. | Costa Rica | Manufacturing and selling of steel products | 99.98 | % | 99.98 | % | 99.98 | % | |||||||||||||
Ternium Internacional Guatemala S.A. (10) | Guatemala | Selling of steel products | 99.98 | % | 99.98 | % | 99.98 | % | |||||||||||||
Ternium Colombia S.A.S. (formerly Ferrasa S.A.S.) (10) | Colombia | Manufacturing and selling of steel products | 100.00 | % | 100.00 | % | 100.00 | % | |||||||||||||
Ternium del Cauca S.A.S. (formerly Perfilamos del Cauca S.A.S.) (10) | Colombia | Manufacturing and selling of steel products | 100.00 | % | 100.00 | % | 100.00 | % | |||||||||||||
Ternium Siderúrgica de Caldas S.A.S. (formerly Siderúrgica de Caldas S.A.S.) (10) | Colombia | Manufacturing and selling of steel products | 100.00 | % | 100.00 | % | 100.00 | % | |||||||||||||
Tenigal S. de R.L. de C.V. (11) | Mexico | Manufacturing and selling of steel products | 51.00 | % | 51.00 | % | 51.00 | % | |||||||||||||
Ternium Internacional S.A. (12) | Uruguay | Holding and marketing of steel products | 100.00 | % | 100.00 | % | 100.00 | % | |||||||||||||
Company | Country of Organization | Main activity | Percentage of ownership at December 31, | ||||||||||||||||||
2018 | 2017 | 2016 | |||||||||||||||||||
Ternium Treasury Services S.A. (12) | Uruguay | Financial Services | 100.00 | % | 100.00 | % | 100.00 | % | |||||||||||||
Ternium Internationaal B.V. (13) | Netherlands | Marketing of steel products | 100.00 | % | 100.00 | % | 100.00 | % | |||||||||||||
Ternium International Inc. (13) | Panama | Marketing of steel products | 100.00 | % | 100.00 | % | 100.00 | % | |||||||||||||
Ternium Procurement S.A. (14) | Uruguay | Procurement services | 100.00 | % | 100.00 | % | 100.00 | % |
Technology & Engineering Services S.A. (14) | Uruguay | Engineering and other services | 100.00 | % | 100.00 | % | 100.00 | % | |||||||||||||
Ternium International USA Corporation (15) | USA | Marketing of steel products | 100.00 | % | 100.00 | % | 100.00 | % | |||||||||||||
Ternium Ingeniería y Servicios de México S.A. de C.V. (16) | Mexico | Engineering and other services | 99.89 | % | 99.89 | % | 99.89 | % | |||||||||||||
Soluciones Integrales de Gestión S.A. (17) | Argentina | Other services | 100.00 | % | 100.00 | % | 100.00 | % | |||||||||||||
Ternium Staal B.V. (18) | Netherlands | Holding and marketing of steel products | 100.00 | % | 100.00 | % | - | ||||||||||||||
Ternium Brasil Ltda. (18) | Brazil | Manufacturing and selling of steel products | 100.00 | % | 100.00 | % | - | ||||||||||||||
Ternium del Atlántico S.A.S (19) | Colombia | Manufacturing and selling of steel products | 100.00 | % | 100.00 | % | - | ||||||||||||||
Ternium Solutions S.A. (formerly Tericer Trading S.A.) (20) | Uruguay | Other services | 100.00 | % | - | - | |||||||||||||||
Acedor, S.A. de C.V. (21) | Mexico | Holding | - | 88.78 | % | 88.78 | % | ||||||||||||||
Ecosteel Gestao de Efuentes Industriais S.A. (22) | Brazil | Other services | - | 100.00 | % | - | |||||||||||||||
Galvatubing Inc (23) | USA | Manufacturing and selling of pipe Products | - | 88.78 | % | 88.78 | % | ||||||||||||||
Galvamet America Corp (24) | USA | Manufacturing and selling of insulated panel products | - | 88.78 | % | 88.78 | % | ||||||||||||||
Ternium Internacional de Colombia S.A.S. (25) | Colombia | Marketing of steel products | - | 100.00 | % | 100.00 | % | ||||||||||||||
Ecosteel Gestao de Águas Industriais S.A. (26) | Brazil | Other services | - | 100.00 | % | - | |||||||||||||||
Galvacer America Inc (27) | USA | Distributing company | - | - | 88.78 | % |
(1) | Indirectly through Ternium Investments S.à.r.l. Total voting rights held: 100.00%. |
(2) | During the fourth quarter of 2017, Siderar S.A.I.C. changed its business name to Ternium Argentina S.A. Indirectly through Ternium Internacional España S.L.U. Total voting rights held: 60.94%. |
(3) | Since the fourth quarter of 2017, indirectly through Ternium Argentina S.A. and Soluciones Integrales de Gestión S.A. Total voting rights held 100.00%. Before that, indirectly through Ternium Argentina S.A. and Ternium Internacional S.A. |
(4) | Since the fourth quarter of 2017, indirectly through Ternium Argentina S.A. and Ternium Procurement S.A. Total voting rights held 100.00%. Before that, indirectly through Ternium Argentina S.A. and Ternium Internacional S.A. |
(5) | Since the fourth quarter of 2017, indirectly through Ternium Argentina S.A. and Ternium Internacional España S.L.U. Total voting rights held 100.00%. Before that, indirectly through Ternium Argentina S.A., Ternium Internacional S.A. and Ternium Internacional España S.L.U. |
(6) | Indirectly through Ternium Mexico S.A. de C.V. Total voting rights held: 100.00%. |
(7) | Indirectly through Ternium Mexico S.A. de C.V. and Tenigal S. de R.L. de C.V. Total voting rights held: 100.00%. |
(8) | Total voting rights held: 50.00%. |
(9) | Indirectly through Ternium Mexico S.A. de C.V. Total voting rights held: 74.50%. |
(10) | Indirectly through Ternium Internacional España S.L.U. Total voting rights held: 100.00%. |
(11) | Indirectly through Ternium Internacional España S.L.U. Total voting rights held: 51.00%. |
(12) | Indirectly through Ternium Investments Switzerland AG. Total voting rights held: 100.00%. |
(13) | Since the third quarter of 2017, indirectly through Ternium Investments S.à r.l. Total voting rights held: 100.00%. Before that, indirectly through Ternium Investments Switzerland AG. |
(14) | Since the third quarter of 2017, indirectly through Ternium Internacional España S.L.U. Total voting rights held: 100.00%. Before that, indirectly through Ternium Investments Switzerland AG. |
(15) | Since the fourth quarter of 2017, indirectly through Ternium Investments S.à r.l. Total voting rights held: 100.00%. Before that, indirectly through Ternium Internacional S.A. |
(16) | Indirectly through Technology & Engineering Services S.A. and Ternium México S.A. de C.V. Total voting rights held: 100.00%. |
(17) | Since the third quarter of 2017, indirectly through Ternium Investments S.à r.l. and Ternium Internacional España S.L.U. Total voting rights held: 100.00%. Before that, indirectly through Ternium Investments S.à r.l. and Technology and Engineering Services S.A. |
(18) | Indirectly through Ternium Investments S.à r.l. Total voting rights held: 100.00%. |
(19) | Indirectly through Ternium Internacional España S.L.U. Total voting rights held: 100.00%. |
(20) | Indirectly through Ternium Investments S.à r.l. Total voting rights held: 100.00%. |
(21) | Merged with Ternium México S.A. de C.V. as of December 31, 2018. |
(22) | This company was dissolved as of May 4, 2018. |
(23) | This company was dissolved as of July 19, 2018. |
(24) | On August 3, 2018, the shareholders gave its consent to proceed with the liquidation and dissolution of this subsidiary. |
(25) | This company was dissolved as of October 3, 2018. |
(26) | This company was dissolved as of December 3, 2018. |
(27) | This company was dissolved as of December 11, 2017. |