Aceros Carazo, a Costa Rica-based company dedicated to the import and marketing of steel industry equipment, announced this week that it has acquired Reimers Industrial, a 107-year-old distrubutor.
With the acquisition of Reimers, Aceros Carazo will incorporate a new business category--equipment and industrial machinery--and also seeks to promote the growth of Reimers, through its main line, SKF bearings.
According to José Alvaro Jenkins, president of Aceros Carazo, a goal for 2020 is to be the leading company in Costa Rica in the marketing of structural steel, and in each of the segments involved.
According to the strategic plan, the first year of the merger should see a sales increase of 30 percent along lines that complement the company’s current product offering.
“This acquisition seeks to empower Reimers, a company that has a solid track record and deep knowledge of the industrial segment. Surely there is a synergy of strengths where the ability to manage inventory in Carazo Steels and proximity to its customers, with marketing expertise and the vision of industrial products claiming to bind,” Jenkins said.
Humberto Fernandez, now general manager of both companies said that "the operation will not involve changes to existing business relationships; rather the union of best practices and promote range of products to meet the needs of the industrial market. Trademarks, trademarks and representation agreements that had the two companies are maintained.”
Aceros Carazo will maintain its focus on the consumers of structural steel, while Reimers will focus more on other various industries.