EX-8.1 3 exhibit81listofsubsidiarie.htm EXHIBIT 8.1
EXHIBIT 12.1
Principal subsidiaries
The following is a list of Ternium’s subsidiaries at December 31, 2018.

Company |  | Country of Organization |  | Main activity |  | Percentage of ownership at December 31,
|  |  | 2018 |  | 2017 |  | 2016
Ternium S.A. |  | Luxembourg |  | Holding |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium Investments S.à.r.l. |  | Luxembourg |  | Holding |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium Solutions A.G. (1) |  | Switzerland |  | Services |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium Participaçoes S.A. (formerly Ternium Brasil S.A.) (1) |  | Brazil |  | Holding |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium Investments Switzerland AG (1) |  | Switzerland |  | Holding |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium Internacional España S.L.U. (1) |  | Spain |  | Marketing of steel products |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium USA Inc. (1) |  | USA |  | Manufacturing and selling of steel products |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium Argentina S.A. (2) |  | Argentina |  | Manufacturing and selling of flat steel products |  | 60.94 | % |  | 60.94 | % |  | 60.94 | %
Impeco S.A. (3) |  | Argentina |  | Manufacturing of pipe products |  | 60.97 | % |  | 60.97 | % |  | 60.97 | %
Prosid Investments S.A. (4) |  | Uruguay |  | Holding |  | 60.94 | % |  | 60.94 | % |  | 60.94 | %
Ternium Mexico S.A. de C.V. (5) |  | Mexico |  | Manufacturing and selling of steel products |  | 88.78 | % |  | 88.78 | % |  | 88.78 | %
Hylsa S.A. de C.V. (6) |  | Mexico |  | Manufacturing and selling of steel products |  | 88.78 | % |  | 88.78 | % |  | 88.78 | %
Las Encinas S.A. de C.V. (6) |  | Mexico |  | Exploration, exploitation and pelletizing of iron ore |  | 88.78 | % |  | 88.78 | % |  | 88.78 | %
Ferropak Comercial S.A. de C.V. (6) |  | Mexico |  | Scrap services company |  | 88.78 | % |  | 88.78 | % |  | 88.78 | %
Transamerica E. & I. Trading Corp. (6) |  | USA |  | Scrap services company |  | 88.78 | % |  | 88.78 | % |  | 88.78 | %
Técnica Industrial S.A. de C.V. (6) |  | Mexico |  | Services |  | 88.78 | % |  | 88.78 | % |  | 88.78 | %
Galvacer Chile S.A. (6) |  | Chile |  | Distributing company |  | 88.78 | % |  | 88.78 | % |  | 88.78 | %
Insamex Ecuador, S.A. (6) |  | Ecuador |  | Distributing company |  | 88.78 | % |  | 88.78 | % |  | 88.78 | %
Ternium Gas México S.A. de C.V. (7) |  | Mexico |  | Energy services company |  | 88.78 | % |  | 88.78 | % |  | 88.78 | %
Consorcio Minero Benito Juarez Peña Colorada S.A.de C.V. (8) |  | Mexico |  | Exploration, exploitation and pelletizing of iron ore |  | 44.39 | % |  | 44.39 | % |  | 44.36 | %
Peña Colorada Servicios S.A. de C.V. (8) |  | Mexico |  | Services |  | 44.39 | % |  | 44.39 | % |  | 44.36 | %
Exiros B.V. (8) |  | Netherlands |  | Procurement and trading services |  | 50.00 | % |  | 50.00 | % |  | 50.00 | %
Servicios Integrales Nova de Monterrey S.A. de C.V. (9) |  | Mexico |  | Medical and Social Services |  | 66.14 | % |  | 66.14 | % |  | 66.09 | %
Ternium Internacional Nicaragua S.A. |  | Nicaragua |  | Manufacturing and selling of steel products |  | 99.38 | % |  | 99.38 | % |  | 99.38 | %
Ternium Internacional Honduras S.A. de C.V. |  | Honduras |  | Manufacturing and selling of steel products |  | 99.18 | % |  | 99.18 | % |  | 99.18 | %
Ternium Internacional El Salvador S.A. de C.V. |  | El Salvador |  | Manufacturing and selling of steel products |  | 99.92 | % |  | 99.92 | % |  | 99.91 | %
Ternium Internacional Costa Rica S.A. |  | Costa Rica |  | Manufacturing and selling of steel products |  | 99.98 | % |  | 99.98 | % |  | 99.98 | %
Ternium Internacional Guatemala S.A. (10) |  | Guatemala |  | Selling of steel products |  | 99.98 | % |  | 99.98 | % |  | 99.98 | %
Ternium Colombia S.A.S. (formerly Ferrasa S.A.S.) (10) |  | Colombia |  | Manufacturing and selling of steel products |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium del Cauca S.A.S. (formerly Perfilamos del Cauca S.A.S.) (10) |  | Colombia |  | Manufacturing and selling of steel products |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium Siderúrgica de Caldas S.A.S. (formerly Siderúrgica de Caldas S.A.S.) (10) |  | Colombia |  | Manufacturing and selling of steel products |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Tenigal S. de R.L. de C.V. (11) |  | Mexico |  | Manufacturing and selling of steel products |  | 51.00 | % |  | 51.00 | % |  | 51.00 | %
Ternium Internacional S.A. (12) |  | Uruguay |  | Holding and marketing of steel products |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Company |  | Country of Organization |  | Main activity |  | Percentage of ownership at December 31,
|  |  | 2018 |  | 2017 |  | 2016
Ternium Treasury Services S.A. (12) |  | Uruguay |  | Financial Services |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium Internationaal B.V. (13) |  | Netherlands |  | Marketing of steel products |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium International Inc. (13) |  | Panama |  | Marketing of steel products |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium Procurement S.A. (14) |  | Uruguay |  | Procurement services |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %

Technology & Engineering Services S.A. (14) |  | Uruguay |  | Engineering and other services |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium International USA Corporation (15) |  | USA |  | Marketing of steel products |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium Ingeniería y Servicios de México S.A. de C.V. (16) |  | Mexico |  | Engineering and other services |  | 99.89 | % |  | 99.89 | % |  | 99.89 | %
Soluciones Integrales de Gestión S.A. (17) |  | Argentina |  | Other services |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium Staal B.V. (18) |  | Netherlands |  | Holding and marketing of steel products |  | 100.00 | % |  | 100.00 | % |  | - |
Ternium Brasil Ltda. (18) |  | Brazil |  | Manufacturing and selling of steel products |  | 100.00 | % |  | 100.00 | % |  | - |
Ternium del Atlántico S.A.S (19) |  | Colombia |  | Manufacturing and selling of steel products |  | 100.00 | % |  | 100.00 | % |  | - |
Ternium Solutions S.A. (formerly Tericer Trading S.A.) (20) |  | Uruguay |  | Other services |  | 100.00 | % |  | - |  |  | - |
Acedor, S.A. de C.V. (21) |  | Mexico |  | Holding |  | - |  |  | 88.78 | % |  | 88.78 | %
Ecosteel Gestao de Efuentes Industriais S.A. (22) |  | Brazil |  | Other services |  | - |  |  | 100.00 | % |  | - |
Galvatubing Inc (23) |  | USA |  | Manufacturing and selling of pipe Products |  | - |  |  | 88.78 | % |  | 88.78 | %
Galvamet America Corp (24) |  | USA |  | Manufacturing and selling of insulated panel products |  | - |  |  | 88.78 | % |  | 88.78 | %
Ternium Internacional de Colombia S.A.S. (25) |  | Colombia |  | Marketing of steel products |  | - |  |  | 100.00 | % |  | 100.00 | %
Ecosteel Gestao de Águas Industriais S.A. (26) |  | Brazil |  | Other services |  | - |  |  | 100.00 | % |  | - |
Galvacer America Inc (27) |  | USA |  | Distributing company |  | - |  |  | - |  |  | 88.78 | %

(1) | Indirectly through Ternium Investments S.à.r.l. Total voting rights held: 100.00%.

(2) | During the fourth quarter of 2017, Siderar S.A.I.C. changed its business name to Ternium Argentina S.A. Indirectly through Ternium Internacional España S.L.U. Total voting rights held: 60.94%.

(3) | Since the fourth quarter of 2017, indirectly through Ternium Argentina S.A. and Soluciones Integrales de Gestión S.A. Total voting rights held 100.00%. Before that, indirectly through Ternium Argentina S.A. and Ternium Internacional S.A.

(4) | Since the fourth quarter of 2017, indirectly through Ternium Argentina S.A. and Ternium Procurement S.A. Total voting rights held 100.00%. Before that, indirectly through Ternium Argentina S.A. and Ternium Internacional S.A.

(5) | Since the fourth quarter of 2017, indirectly through Ternium Argentina S.A. and Ternium Internacional España S.L.U. Total voting rights held 100.00%. Before that, indirectly through Ternium Argentina S.A., Ternium Internacional S.A. and Ternium Internacional España S.L.U.

(6) | Indirectly through Ternium Mexico S.A. de C.V. Total voting rights held: 100.00%.

(7) | Indirectly through Ternium Mexico S.A. de C.V. and Tenigal S. de R.L. de C.V. Total voting rights held: 100.00%.

(8) | Total voting rights held: 50.00%.

(9) | Indirectly through Ternium Mexico S.A. de C.V. Total voting rights held: 74.50%.

(10) | Indirectly through Ternium Internacional España S.L.U. Total voting rights held: 100.00%.

(11) | Indirectly through Ternium Internacional España S.L.U. Total voting rights held: 51.00%.

(12) | Indirectly through Ternium Investments Switzerland AG. Total voting rights held: 100.00%.

(13) | Since the third quarter of 2017, indirectly through Ternium Investments S.à r.l. Total voting rights held: 100.00%. Before that, indirectly through Ternium Investments Switzerland AG.

(14) | Since the third quarter of 2017, indirectly through Ternium Internacional España S.L.U. Total voting rights held: 100.00%. Before that, indirectly through Ternium Investments Switzerland AG.

(15) | Since the fourth quarter of 2017, indirectly through Ternium Investments S.à r.l. Total voting rights held: 100.00%. Before that, indirectly through Ternium Internacional S.A.

(16) | Indirectly through Technology & Engineering Services S.A. and Ternium México S.A. de C.V. Total voting rights held: 100.00%.

(17) | Since the third quarter of 2017, indirectly through Ternium Investments S.à r.l. and Ternium Internacional España S.L.U. Total voting rights held: 100.00%. Before that, indirectly through Ternium Investments S.à r.l. and Technology and Engineering Services S.A.

(18) | Indirectly through Ternium Investments S.à r.l. Total voting rights held: 100.00%.

(19) | Indirectly through Ternium Internacional España S.L.U. Total voting rights held: 100.00%.

(20) | Indirectly through Ternium Investments S.à r.l. Total voting rights held: 100.00%.

(21) | Merged with Ternium México S.A. de C.V. as of December 31, 2018.

(22) | This company was dissolved as of May 4, 2018.

(23) | This company was dissolved as of July 19, 2018.

(24) | On August 3, 2018, the shareholders gave its consent to proceed with the liquidation and dissolution of this subsidiary.

(25) | This company was dissolved as of October 3, 2018.

(26) | This company was dissolved as of December 3, 2018.

(27) | This company was dissolved as of December 11, 2017.