Peruvian steelmaker Aceros Arequipa has announced that it has completed the acquisition of 100 percent of shares of Peruvian steel distributor Comercial del Acero SA (COMASA).
The company stated that this acquisition constitutes an important milestone in its strategy to increase its participation in the steel market, because through this purchase it will invoice more than $1 billion annually starting from 2019.
Tulio Silgado, CEO of Aceros Arequipa, stated that with this step the company will strengthen its leadership and presence in the country. In addition, it will venture into new product families complementing its portfolio, and increase its presence in various industries by providing better service and steel solutions.