Ternium to meet Argentine truckers in to end steel blockade

Tuesday, 24 Aug 2010
Bloomberg reported that Ternium SA, which controls Argentina's largest steelmaker, will meet with union officials to discuss ending a weeklong protest by truckers that has blocked 5 steel plants.

Mr Diego Mandelman ministry spokesman said that the ministry will sponsor the talks between representatives of the company and the union. A similar meeting on August 20th 2010 failed to resolve the dispute.

Mr Pablo Moyano union official said that truckers started a blockade at five of the company's plants on August 17th 2010 to demand that Ternium's Argentine unit, Siderar SAIC, improve the working conditions of contracted drivers.

The protests, which are blocking trucks from entering or leaving plants, may cause a shortage of steel for the automobile industry, Siderar said in an August 20th 2010 filing with the Argentine securities commission. Auto output in Argentina rose 22% in July 2010 from a year earlier while exports climbed 25%.

Argentine operations account for about 30% of Ternium's overall profit. Ternium is part of Techint Argentina SA, which also controls Tenaris SA, the world’s largest producer of seamless steel pipes used by crude producers.