October 07, 2008

AIMM asks Sidor to continue domestic shipments

BNamericas reported that Venezuela's mining and metallurgical industry association, AIMM, has asked steelmaker Ternium Sidor not to suspend delivery of steel to the domestic market now that the government has announced that the company will be nationalized.

Mr Eduardo Garmendia president of AIMM told BNamericas that "As an association, we are interested in the guarantee of a continuous steel supply in Venezuela to keep the metallurgical production chain operating. It is important for the sector to have a generous supply of quality materials. We need to maintain the same level of efficiency and competitive prices that we have been offering.”

A representative from Venezuela's steelworkers union Sutiss said that company employees have suspended deliveries while the company is being transferred. Venezuelan press reported that the situation has put the brakes on 300 trucks and two barges carrying nearly 70,000 tonnes of steel.