Ternium S.A., a leading flat steel producer throughout Latin America and part of the Techint Group, reported that Argentine prosecutors have requested that Ternium’s chairman, Paolo Rocca, and his co-defendants, be held in preventive detention pending the outcome of the “Notebooks Case.” According to press reports, the case arose from an investigation of notes made by the company’s chauffeur, which led to allegations by prosecutors that Techint paid bribes to former Argentine government officials so that they would intervene in the partial nationalization of Techint’s subsidiary in Venezuela, Sidor.
December 5, 2018