DOW JONES NEWSWIRES

Ternium S.A.'s (NYSE:TX) (TX) IMSA Acero S.A. de C.V. unit will sell certain U.S. assets to BlueScope Steel Ltd.'s (Australia:BSL) (BSL.AU) BlueScope Steel North America Corp.

The steel producer will sell its interests in Steelscape Inc., ASC Profiles Inc., Varco Pruden Buildings Inc. and Metl-Span LLC in a stock agreement valuing the assets at $730 million, subject to adjustments.

BlueScope Steel (Australia:BSL) will also assume about $20 million in underfunded pension liabilities.

Ternium (NYSE:TX) plans to use the sale proceeds to prepay financial debt.

Ternium (NYSE:TX) will continue to own Steelscape's Shreveport, La., plant and its Mexican pre-engineered metal buildings and insulated steel panels businesses.

The deal, which is subject to antitrust clearance and other customary conditions, is slated to close in the first quarter of 2008.

-Melissa Korn; 201-938-5400; AskNewswires@dowjones.com

    (END) Dow Jones Newswires   12-19-07 1757   Copyright (c) 2007 Dow Jones & Company, Inc.