One of Argentina’ leading international corporations, Techint, made public a 200 pages report sent to the Buenos Aires stock exchange with a devastating picture of the country’s economy which “continues in a state of fragility”.
The Techint Group agreed to pay 5.03 billion Reais (2.7 billion dollars) for a 27.7% voting stake in Brazil’s Usinas Siderurgicas de Minas Gerais to boost access to the largest market for steel in Latin America.
Steel giant Tenaris, a member of the Argentine group Techint, said on Wednesday that it initiated arbitration proceedings against Venezuela following the nationalization of steelmaker Matesi.