Cade, Brazil’s anti-trust authority, has approved, without restrictions, a joint loyalty program by Gerdau, Votorantim Cimentos and Tigre Group for the local steel sector, Gerdau said.
The initiative, known as Juntos Somos Mais (Together We Are More), aims to help all three companies to improve client support to final users and civil construction-related professionals.
The loyalty program allows steel and other product sales to account for points, which could be exchanged for products or services.
Votorantim Cimentos owns a 45 percent in the new company, while Gerdau and the Tigre Group have each a 27.5 percent stake.
Gerdau didn’t clarify how the new company will generate revenues nor help the steelmaker increase steel sales.