Steel Products
Ternium CEO Máximo Vedoya to Address Steel Summit
Written by Sandy Williams
August 10, 2020
Latin American steel producer Ternium took COVID-19 assistance a step beyond its own needs in the second quarter. The company built a 112-bed field hospital in Monterrey, Mexico, with a fully equipped intensive care unit as well as supplying 25 intensive care units to two hospitals in Rio de Janeiro and 100 beds and intensive care equipment to a field hospital in Ensenada, Argentina.
“Our aim was to help all of our communities in the region,” said CEO Máximo Vedoya. “To maximize the effectiveness of our help, we worked together with directors of key hospitals in each of Ternium’s locations to determine the specific needs in each case. All in all, with a $5.5 million dedicated fund, we were able to build a field hospital and donated beds, intensive care equipment, ventilators and other medical equipment as well as safety kits for health professionals to 16 hospitals and health care facilities in four countries. Our global procurement platform had a key role in this effort as it was able to purchase the required equipment and have it delivered to each location.”
Additionally, Ternium spearheaded a virtual network of medical professionals from local communities in Mexico, Argentina, Brazil and Columbia with colleagues at Humanitas, an Italian network of hospitals. Humanitas doctors were able to share their experience in dealing with the COVID-19 outbreak in Italy with their counterparts in Mexico and South America.
Ternium is proving its commitment to helping its communities thrive by investing more than $60 million in the past five years for schools, technical training, healthcare, and cultural and sports initiatives.
Máximo Vedoya is one of the featured executives that will speak at the SMU Steel Summit 2020. You may register for the event here.
Speaker’s Bio
Máximo Vedoya was appointed Chief Executive Officer of Ternium in March 2018. Prior to that, he served as President of Ternium Mexico. He has held several other executive positions since joining the Techint Group in 1992, such as chief executive officer of Ferrasa, director of Ternium Mexico’s international and steel purchase operations, commercial director and export manager of Sidor and commercial planning manager of Ternium Argentina. He was also director of Fedemetal (the Colombian Federation of Metallurgical Industries), AIMM (Venezuelan Association of Metallurgical and Mining Industry) and is currently president of Canacero (Mexican steel association), president of Alacero, vice president of Caintra (Nuevo León Industrial Chamber), vice president of CONCAMIN (Mexican industrial chamber) and general counsellor of UDEM (University of Monterrey, Mexico).
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products
Final Thoughts
The difference: The spat with Turkey was a big deal for steel. This time, the 50% reciprocal tariff for Brazil – if it goes into effect as threatened on Aug.1 – hits everything from coffee and to pig iron. It seems almost custom-built to inflict as much pain as possible on Brazil.
CRU: US rebar and wire rod prices rise alongside S232 increase
CRU Senior Steel Analyst Alexandra Anderson discusses current market and pricing dynamics for long steel products in the US.
CRU: Excessive global supply could hit rebar mill investments in US
Following the onset of the war in Ukraine in March 2022, concerns about import availability and expectations of rising demand from President Biden’s Infrastructure Bill pushed US rebar prices to record highs. In response, a flurry of new mills and capacity expansions were announced to meet the rise in demand from growth in the construction […]
Steel buyer spirits tempered by soft spot market conditions
Steel sheet buyers report feeling bogged down by the ongoing stresses of stagnant demand, news fatigue, tariff negotiations or implementation timelines, and persistent macroeconomic uncertainty.
CRU: US stainless prices to rise on expanded S232 tariffs
Stainless prices in the US market will rise, following price increases by major US producers. Our base case scenario incorporates higher US prices in the near term, despite the initial negative reaction by the market. US stainless prices will go up in 2025 H2 and will stay elevated in 2026 as tariffs on stainless […]