The company Siderúrgica Venezolana SIVENSA S.A. came into being in 1948, and two years later in 1950 began operating the first steel mill in Venezuela. By the end of the decade, it had built up an advantageous position in the production of reinforcing bars for the construction industry.
 
In 1953, Sivensa began a strategy of diversification into the automotive area, opening operations to produce springs and leaf springs. In the 1970s, Sivensa formed an association with foreign automotive part manufacturers to expand its presence in the sector, through a range of products for the original equipment and replacement segments.
 
In 1976, Sivensa created the Fundametal Foundation for Industrial Training to offer specialized training for metallurgical workers in its plants in Valencia. The Foundation grew and extended its operations to Caracas, Puerto Ordaz and Barquisimeto, covering needs that range from courses for apprentices to graduate level studies.
 
In the 1980s, Sivensa expanded its steel and metalworking operations into the manufacture of products for international and local markets, and began to produce equipment for the oil industry. In the same period, Sivensa strengthened its interest in Vicson, in alliance with the Belgian company Bekaert which produces galvanized and drawn wire.

In the second half of the 80’s, Sivensa expanded its presence in the manufacturing of reduced iron briquettes, when it acquired a majority stake in FIOR, the first Venezuelan iron briquettes exporter. In 1991, when the plant Venprecar started operations, Sivensa defined its strategy towards growing in the iron briquettes area.

In 1997 Sivensa acquired an original participation of 20% of the Consorcio Siderurgica Amazonia Ltd, which won the auction related to the privatization of Siderúrgica del Orinoco “Sidor”. In November 2005, Sivensa’s interest was exchanged for a participation in Ternium, C.A., a company owned by the Techint group, which subsequently listed its shares in the New York Stock Exchange in the form of ADRs.

In 1998 the division International Briquettes Holding (IBH) is incorporated. This company partnered with an international corporation to build the briquettes plant Orinoco Iron, which starts operations in 2000.

As a result of the international crisis of the steel industry and the recession of Venezuelan economy in late 90’s, Sivensa began an organizational restructuring, which refocuses its activities on the steel, wire and briquette sectors. As part of this restructuring, the company sold its interests in the oil and automotive operations. Additionally, the company carried out an intensive program to reduce administrative expenses in its divisions and corporate offices.

Since 2003, Sivensa’s steel and briquettes businesses have had a major growth due to the increase of Venezuela’s economic activities and the high demand for raw materials for the steel industry world-wide.  Additionally, the positive results of the strategies for increasing productivity, modernizing the equipment and increasing the capacity in the areas with the largest demand, enabled Sivensa to successfully refinance its financial debt in fiscal year 2006.

In 2007, Sivensa sold 78% of its participation in Ternium.  The proceeds of this transaction have been used for investments in fixed assets, paying its financial debt and distributing a special dividend to the shareholders.  In September 2007, as part of Sivensa’s orientation towards the concentration in the steel and briquette businesses, the corporation sold its 50.002 % participation in wire company Vicson.

Sivensa currently employs more than 2.800 workers in its plants and offices in Caracas, Valencia, Barquisimeto, Guarenas and Puerto Ordaz.  Sivensa shares are listed on the Caracas Stock Exchange under the symbol SVS and on the over-the-counter market through its ADR program, under the symbol SDNVY.PK.