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With The Highest Offer
The Amazonia Consortium Was
Awarded Sidors's Bid
Caracas, December 18 (special): The Amazonia Consortium was awarded the
bid of C.V.G. Siderurgica del Orinoco, SIDOR, Amazonia is a mixed
consitorium headed by the Techint Group (Siderar de Argentina, Tamsa of
Mexico and Techint Engineering Company of Panam ) in which it holds a
40% stake and also formed by Hylsamax of Mexico with a 30% stake,
Sivensa of Venezuela with 20% and Usisminas of Brazil with 10%.
Amazonia offered 2,301.7 million dollars for sidor, as whole. This
amount exceed the 2.181 million dollars offered by the Latin American
Consortium headed by the Brazilean Companhia Siderurgica Nacional
jointly with IMSA of Mexico and Compania Aceros del Pac¡fico of Chile.
On its part, the IPSAL group, of Hindu origin, offered 2.060 million
dollars.
Amazonia is an iron and steel consortium formed by a group of companies
that have become associated in order to share their strengths for the
benefit of SIDOR.
They produce jointly 12.5 million tons of liquid steel per year. Have
recognised standing and are skilled in the manufacture of flat and
non-flat products, in the handling of electric furnaces and have great
experience in the privatisation processes of Latin American steel
companies. Same have sound knowledge of the local and international
markets and of the characteristics and personnel of SIDOR, since the
Consortium has a local members.
As concerns the future of the company, representatives of Amazonia
understand that SIDOR should play an important role in the worldwide
market. Through an investment program and increased competitiveness it
shall be able to strengthen the production capacity of its plant and of
the "downstream business", reinforcing the development of the steel and
metal mechanic industries of Venezuela and furthering the presence of
the company in the international markets.
The consortium is one of the few examples of Latin American companies
that seek its trans-nationalization and consolidation as worldwide
supplies, a key factor to face the inevitable process of globalisation
and hypercompetition the world is now going through.
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For questions of comments:
Our contact is Santiago Lozano
Copyright c 1996 by Siderar SAIC
Avenida Leandro N. Alem 1067 (1001) Buenos Aires, Argentina
Tel. (54-1) 318-2514; Fax: 54-1.313-6417
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