Ternium Mexico signed an agreement Friday with the National Institute of Entrepreneurship (Inadem) to link together to micro, small and medium-sized Mexican companies in the value chain through the support of 40 million pesos (US$3.07 million) to develop these businesses as suppliers of steel.

The company said the agreement was signed by the president of Ternium Mexico, Maximum Vedoya, and Inadem president, Enrique Rocha Jacob, as part of National Entrepreneurship Week.

"This agreement will benefit from an economic impact and job creation to SMEs that are in industrial sectors and communities where Ternium has presence," the company said.