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Company News

Argentina tells truckers to stop protests for talks

* Argentina orders gov’t mediation to end dispute

* Blockade seen hitting auto industry’s steel supplies

BUENOS AIRES, Aug 24 (Reuters) - Argentina's government ordered truckers on Tuesday to call off a week-long blockade of Ternium Siderar SID.BA steel plants that has started to disrupt the supply of steel to the car industry.

Members of the country’s powerful truckers union started blockading access roads around the factories last Wednesday to press demands for higher pay and the direct hiring of drivers who work for a subcontractor. [ID:nN18192733]

The Labor Ministry ordered the union to call off the protest and participate in compulsory conciliation to resolve the dispute.

“Some companies already have problems today (Tuesday) and between today and Thursday, most are going to have problems,” one auto industry source said on condition of anonymity.

Ternium Siderar, part of the Ternium group TX.N, has nine plants in Argentina. It mainly supplies local industry such as the fast-growing automobile sector and construction companies, which have helped drive the country's swift economic rebound.

Siderar shares were down 0.77 percent at 25.7 pesos in afternoon trading in Buenos Aires. (Reporting by Karina Grazina; writing by Kristina Cooke; editing by Andre Grenon)

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