February 8, 2018 / 9:41 PM / 6 months ago

BRIEF-Ternium Announces Agreement With NSSMC Regarding Governance Of Usiminas

Feb 8 (Reuters) - Ternium SA:

* TERNIUM ANNOUNCES AGREEMENT WITH NSSMC REGARDING GOVERNANCE OF USIMINAS

* TERNIUM SA - UNIT ENTERED INTO BINDING AND IMMEDIATELY EFFECTIVE AGREEMENT WITH NIPPON STEEL & SUMITOMO METAL CORPORATION

* TERNIUM SA - AGREEMENT ESTABLISHES CERTAIN NEW GOVERNANCE RULES FOR USIMINAS, CERTAIN UNDERTAKINGS FOR SETTLEMENT OF LEGAL DISPUTES

* TERNIUM SA - NEW GOVERNANCE RULES FOR USIMINAS INCLUDE ALTERNATION MECHANISM FOR NOMINATION OF EACH OF CEO AND CHAIRMAN OF BOARD OF DIRECTORS

* TERNIUM SA - NEW GOVERNANCE RULES FOR USIMINAS INCLUDE A NEW MECHANISM FOR NOMINATION OF OTHER MEMBERS OF USIMINAS’ EXECUTIVE BOARD

* TERNIUM - RIGHT TO NOMINATE CEO AND CHAIRMAN WILL ALTERNATE BETWEEN TERNIUM AND NSSMC AT EVERY 4-YEAR INTERVAL, COMPRISING 2 CONSECUTIVE 2-YEAR TERMS

* TERNIUM SA - CO, NSSMC INTEND TO NOMINATE SERGIO LEITE AS USIMINAS’ CEO AND RUY HIRSCHHEIMER AS USIMINAS’ CHAIRMAN OF BOARD

* TERNIUM SA - EXECUTIVE BOARD WILL BE COMPOSED OF SIX MEMBERS, INCLUDING CEO AND FIVE VICE-PRESIDENTS, WITH CO, NSSMC NOMINATING THREE MEMBERS EACH

* TERNIUM SA - AS PART OF AGREEMENT, CO, NSSMC WILL TAKE STEPS TO TERMINATE OR RESOLVE ALL PENDING JUDICIAL AND ADMINISTRATIVE DISPUTES Source text for Eikon: Further company coverage:

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