Brazilian distributor Açotubo plans to invest a combined $4.3 million (BRL 23 million) to build a new pipe facility, the company said.
The new building will facilitate logistics for the distributor, as it will be located near its headquarters and key mill. Açotubo said it expects to reduce costs and facilitate processes in the 7,000-square-meter area.
The company said it expects to increase its portfolio of steel products during an undisclosed period of time and post stronger results. Açotubo said revenues in the full-year of 2019 reached BRL 800 million ($151.1 million).