|Industry||Steel, Mining, Constructions, Engineering, Healthcare|
Buenos Aires, Argentina
|Key people||Gianfelice Rocca - Techint, Tenova, Humanitas Chairman
Paolo Rocca - Tenaris, Ternium Chairman
Oil & gas
Technologies for Iron & Steel and Mining Industries
|Revenue||US$ 25.477 billion (2012)|
Techint is an Argentine Italian conglomerate multinational company founded in Milan in September 1945 by Italian industrialist Agostino Rocca and headquartered in Milan (Italy) and Buenos Aires (Argentina). Techint comprises more than 100 companies operating worldwide in the following areas of business: Engineering & Construction, Steel, Mining,Oil & Gas, Industrial Plants, Healthcare. Techint, with its subsidiaries, is the largest steel making company in Latin America, (fifth in the Americas). Techint is the world's largest manufacturer of seamless steel tubes, mainly used in the oil industry.
Techint is not limited only to production of steel. They also provide many services for other companies, for example, Telecom Argentina used Techint's services during the '90s when upgrading Argentina's phone systems. Techint installed thousands of underground cables for Telecom Argentina (mostly in Buenos Aires).
Agostino Rocca, an executive at Ansaldo, Dalmine and Siac (steel and iron industries), and prominent member of the IRI broke with dictator Benito Mussolini after his declaration of the Italian Social Republic over Northern Italy, in 1943, and emigrated to Argentina after World War II. Techint was founded in Milan in 1945, but developed its main activity also in Buenos Aires in 1946, and its original company name, Compagnia Tecnica Internazionale (Italian, Technical International Company), was changed shortly after to Techint, its abbreviated telex code.
Awarded a contract to build a 1,600 km (1,000 mi) gas pipeline from Comodoro Rivadavia to Buenos Aires in 1949 by President Juan Perón, Techint became a leading government contractor during Perón's ambitious infrastructure program. Establishing subsidiaries in Brazil (1947), Chile (1951), and Mexico (1954), the company opened its first seamless steel tube plant in Campana, in 1954; in 1969, Techint's Ensenada plant became the only Argentine manufacturer of cold rolled steel.
A staple of large engineering projects all over South America, Techint participated in the privatization drive of the early 1990s, purchasing a stake in Argentina's then-leading steel manufacturer, the state-owned SOMISA. A significant part of Techint's core manufacturing strength has since been concentrated in the San Nicolás-Villa Constitución oil-and-steel corridor, where the company is a regional leader in the production of cold rolled steel.
On August 23, 2005, the Techint group bought 99.3% of Mexican Hylsamex for US $2.2 billion. In press release, Techint informed that the Mexican steel manufacturer, and its previous steel manufacturers Siderar (Argentina) and Sidor (Venezuela) would be under a new subsidiary called Ternium, headquartered in Luxembourg.
The decision of Venezuelan President Hugo Chávez to nationalize Sidor came on the heels of a series of industrial disputes over the previous year. Compensation of around US$1.97 billion was agreed for the nationalisation of Ternium's 60% stake in Sidor, with the former keeping a 10% stake in the company, but frictions emerged with the Kirchner administration in Argentina over their reported refusal to raise objections to the nationalization with President Chávez.
In 2012 the Techint Group entered the mining industry through the Tenova’s acquisition of several companies operating in this field.
- Tenaris: NYSE: TS A global supplier of tubular products and services used in drilling, completion and production of oil and gas, in process and power plants, and in specialized industrial and automotive applications. Companies owned by the Techint group through Tenaris include: Siderca and Siat (Argentina), Confab (Brazil), Tamsa (Mexico), Algoma (Canada), Dalmine (Italy), Silcotub (Romania) and has production facilities in the US and a joint venture with NKK (Japan), holding 51% of NKK shares since 1999, making it the first Japanese steel company in foreign majority ownership. Its total steel tube shipments exceeded 4.5 million tons in 2008.
- Ternium: A Latin American supplier of flat and long steel products, produced in three integrated steel mills located in Argentina, Mexico, USA and Guatemala with an overall capacity of nearly 9 million tons per year.
- Techint Engineering & Construction: A group of companies rooted in Italy, Argentina, Brazil, Mexico and other Latin American countries, as well as the Middle East, Asia and Africa, specialized in the design and construction of pipelines, oil and gas facilities, petrochemical plants, power plants and transmission lines, mining and metal complexes, and other infrastructure and civil projects.
- Tenova: Tenova's subsidiaries operate in five continents supplying - with innovative technologies - direct reduction plants, submerged arc furnaces, cold rolling mills, strip processing lines, roll grinders, automated roll shops, engineering and EPCM services, mining and bulk handling systems, minerals processing and modular plants, solid/liquid separation solutions, furnaces and smelting plants.
- Tecpetrol: Active in oil and gas exploration and production in several Latin American countries and recently in United States.
- Humanitas: Holds a number of research-committed health care institutions of high complexity in Italy, managed through a patient oriented approach relying on a generalized application of state-of-the-art integrated information technology systems.
Techint remains an industry leader in Argentina, as well as a preferred destination for top engineering graduates. Its "young professionals" training program was considered Argentina's best.
- "Techint desafía la turbulencia y desembolsa u$s21.600 M para expandirse en la región". iProfesional.
- "Techint (Compagnia Tecnica Internazionale S.p.A.) Description". Business News Americas.
- Article on the steel industry in Latin America
- The Independent
- Article on Hylsamex acquisition
- Article on the creation of Ternium (August 22nd, 2005)
- Ternium to Obtain Control of Mexico-Based Grupo Imsa (April 30, 2007)
- Reuters, 30 January 2008
- Reuters, 26 April 2008
- Business News Americas, 20 January 2009.
- Crítica 27 May 2009 (Spanish)
- Funding Universe: Siderar
- Article on the acquire of Romanian Donasid S.A. by Tenaris (May 4th, 2005)
- NKK press release on the Joint Venture with the Techint Group (August 1st, 2000)