Argentine Court Acquits Ternium's Chairman in the Notebooks Case

Rhea-AI Summary

Ternium S.A. (NYSE:TX) has been acquitted of all charges in the Notebooks Case involving its Chairman, Paolo Rocca. A first-instance judge ruled that Rocca's involvement does not tarnish his reputation. The decision was uncontested by the prosecutor or the government unit involved. This ruling may strategically strengthen Ternium's position in the market by alleviating potential reputational risks associated with legal challenges.

Positive

• Chairman Rocca acquitted, enhancing company reputation and leadership stability.

Negative

• None.

LUXEMBOURG / ACCESSWIRE / August 17, 2021 / Ternium S.A. (NYSE:TX) has been informed that the first-instance judge in charge of the Notebooks Case acquitted Ternium's Chairman, Paolo Rocca, of all charges brought against him in the case. In its decision, the first-instance judge stated that Mr. Rocca's involvement in the Notebooks Case's judicial proceedings does not affect his good name and honor in any way. The first-instance judge's decision concerning Mr. Rocca was not appealed by either the prosecutor or the government unit prosecuting economic crimes (UIF).

Forward Looking Statements

Some of the statements contained in this press release are "forward-looking statements". Forward-looking statements are based on management's current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to gross domestic product, related market demand, global production capacity, tariffs, cyclicality in the industries that purchase steel products and other factors beyond Ternium's control.

About Ternium

Ternium is Latin America's leading flat steel producer, with operating facilities in Mexico, Brazil, Argentina, Colombia, the southern United States and Central America. The company offers a broad range of high value-added steel products for customers active in the automotive, home appliances, HVAC, construction, capital goods, container, food and energy industries through its manufacturing facilities, service center and distribution networks, and advanced customer integration systems. More information about Ternium is available at www.ternium.com.

Sebastián Martí
Ternium - Investor Relations
+1 (866) 890 0443
+54 (11) 4018 8389
www.ternium.com

SOURCE: Ternium S.A.

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FAQ

What was the outcome of the Notebooks Case involving Ternium's Chairman?

Ternium's Chairman, Paolo Rocca, was acquitted of all charges in the Notebooks Case.

How does the acquittal impact Ternium's stock (TX)?

The acquittal may positively influence Ternium's stock by improving its reputation and reducing legal risks.

Was the acquittal decision appealed by the prosecutor?

No, the acquittal decision was not appealed by either the prosecutor or the government prosecuting unit.

What are the forward-looking statements mentioned in Ternium's press release?

The forward-looking statements address potential risks including market demand, tariffs, and economic uncertainties.