Subsidiaries

IBH

http://www.ibhcayman.com.ve/

International Briquettes Holding “IBH”

International Briquettes Holding “IBH” was established with the aim of grouping companies dedicated to the production and marketing of iron briquettes and products of a diverse nature aimed at industrial sectors, among which include machinery, industrial spare parts, raw materials and intermediate and finished products.

Venprecar: Venezuelan Prereduced Caroní, C.A. “Venprecar”, is located in the industrial zone of Matanzas, Puerto Ordaz. It is a Midrex technology plant, with a nominal production capacity of 815,000 metric tons per year. It feeds on pellets and lumps of iron ore.

Orinoco Iron: Orinoco Iron S.C.S., Sociedad en Comandita Simple, is located in the industrial zone of Matanzas, Puerto Ordaz. It is a Finmet technology plant, with a nominal production capacity of 2.2 million metric tons per year. It feeds on iron ore fines.

IBH plants (in process of nationalization)

At the beginning of February 2010, the Venezuelan State, unilaterally and exclusively, took control and assumed the administration of the briquetting companies Venprecar and Orinoco Iron, both subsidiaries of Sivensa (through IBH), which led to the occupation and exploitation of its industrial plants located in Puerto Ordaz, Bolívar State.

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SIDETUR

Siderúrgica del Turbio, S.A. “Sidetur”

Sidetur is the steel subsidiary of Sivensa. Its productive activities range from the collection and processing of ferrous scrap to the production of finished steel products for the construction industry and metal carpentry. Sidetur has the following industrial facilities to carry out its productive activities: 12 scrap collection fields, two steel mills (Barquisimeto and Casima), four rolling mills (Barquisimeto, Antímano Plant, Lara Plant and Guarenas Plant) and an electro-welded mesh plant and Sidepanel construction systems (Valencia Plant). Sidetur’s nominal annual capacity is 835,000 metric tons of steel products; 615,000 metric tons of rolled products and 67,000 metric tons of electro-welded products. Sidetur expropriation process On October 31, 2010, the then President of the Republic announced the expropriation of the plants and other industrial assets owned by the subsidiary Siderurgica del Turbio, S.A. “Sidetur”. In Official Gazette No. 39,544 dated November 3, 2010, the corresponding Presidential Decree No. 7,786 dated November 2, 2010 was published. At the end of October 2012, the Venezuelan State, through the state-owned company Complejo Siderúrgico Nacional, S.A., took possession and control of the plants and industrial assets of the subsidiary Sidetur, located in various parts of the country, as well as the cash funds that constituted the working capital of said subsidiary. Since such date, the Sidetur subsidiary has been intervened by a Temporary Administrative Board appointed by the National Executive, for all purposes related to the expropriation of its industrial assets.