Techint
It is a business group mainly devoted to the production of steel . He has more than 100 companies operating throughout the world. It has a permanent staff of more than 60,000 employees spread across all continents. This group was founded in 1945 in Milan as an international group of Agostino Rocca (1895-1978). Agostino Rocca was an Italian engineer who emigrated to Argentina in the first half of the twentieth century.
The two biggest companies in the group Techint are Tenaris, dedicated to the production of steel tubes, seamless, and Ternium , dedicated to the production of flat and long steel.
During the decade of the '90s, the group's business continued to diversify, and an important fact of this period was the "purchase" of the company Somisa , a major steel mills in Argentina. The company changed the name of Somisa Siderar when it was privatized under the government of Carlos Menem. involved in settlement Argentinean finance ministers, who followed a road map of the World Bank, which included thousands of layoffs of steelworkers. According Horacio Verbitsky : " In the two years prior to its sale to Techint, Somisa incurred losses on their balance sheets, which had always been surplus, partly because subsidized rolled sheet Hot selling to Propulsora, Techint Group. This will cut the price. As expected, returned to take profits after the sale to the lender of Milan (with legal headquarters in Luxembourg and the Netherlands Antilles) " .
At this stage, highlights the growth of oil operations in countries of origin Latin America: Venezuela, Bolivia, Brazil, Ecuador, Mexico and Peru. In Italy, Techint entered the service area.
IN VENEZUELA: In April 2008, the group's companies were nationalized Venezuelan territory, creating a commercial dispute with a respective request for compensation by the state to the company.
profits in 2008 reached 1750 million pesos in the first three quarters, which is a record in the 18 years after disposal. In 2009 joined SPIJ, a steel plant in Indonesia.
Searching the same rights
TECHINT UNKNOWN IN SUBSIDIARY 441 DECREE
AND LOCK THE APPOINTMENT OF A STATE DIRECTOR
The State has 26 percent of the capital, but could not designate a representative on the board .
Techint yesterday blocked the appointment of a state director in its subsidiary Siderar. In this way, ignored the decree 441, which amended scheme participation in companies where the Anses has investments. The National Securities Commission (CNV) reacted by canceling the meeting last night to declare as illegal and ineffective "the decisions, from the creation of the directory to the distribution of dividends for 1500 million pesos. In the coming days the company would initiate legal action to stop the implementation of Decree .
The Necessity and Urgency Ordinance promulgated by the government lifted a ceiling of 5 percent to the participation of representatives of States for the actions the Anses have in your portfolio. This restriction was a legacy of the private pension system. Siderar For the Anses owns nearly 26 percent of the capital, but he could appoint a representative only after a negotiation with the company, because with the limit of 5 percent Siderar could veto any proposal of the State. The man agreed was Aldo Ferrer, who came into the directory to the list of majority.
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Dr. Axel Kicillof Economics, 39 years, professor at the University of Buenos Aires and one of the benchmarks of the Cámpora would Aldo Ferrer's replacement as director on behalf of the State in Siderar, the country's largest steelmaker, owned by Techint. Mariano Recalde was co-owner of airlines, the Colegio Nacional de Buenos Aires . |
With Ferrer appointment as ambassador to France, began the succession dispute . The Government seeks to Kicillof Axel enters directory. The official candidate has a PhD in Economics and Professor of Macroeconomics II in the UBA, coordinated by the Center for the Study of Develop-ment Argentino (Cenda) and has several publications on economic theory, among which highlights his deep analysis of the General Theory Keynes. He played in the CTA about Hugo Yasky and is linked to Mariano Recalde, owner of Aerolineas Argentinas, a company which is deputy general manager, with ten thousand people in charge. Since the company proposed to recognized expert on industrial economist and former director of the ECLAC office in Buenos Aires, Bernardo Kosacoff. Recently, Techint published a book of 448 pages compiled Articles of Kosacoff that appeared in the Newsletter Techint from July 1988 to December 2009.
treatment on the agenda was the negative vote Anses at each point. That way the vote went dividend by more than 1500 million pesos. In this regard, Bossio stated that the board of Techint "refused to discuss the distribution of 6.455 billion reserved, no valid argument." When analyzed the composition of the board, the parent company decided to request a recess until May 11 due to time and the "objections that could have" DNU 441. Thus delayed the appointment of Kicillof.
Cristina officially
compensation for former workers
Somisa
After the privatization of the then Joint Steel Company Argentina ( Somisa) in the 90's, thousands of workers were dismissed company and had to leave without receiving their fair share amount for shares under the Employee Stock Ownership Plan (PPP).
Since then, former workers began corresponding claims had a happy corollary.
"When one is government's responsibility to provide answers without blaming anyone, even those that have had. This should have been done 21 years ago and we do today, this government is paying each and every one of the debt, "said the president .
"I feel that this is not just financial compensation but the history of Argentina" , said Cristina adding that "this is a story deeply felt by the people of San Nicolas and around the country. In this way we meet with the word and now we must continue the effort in order to continue building "
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