Brazilian steel distributor Acotubo expects revenues to rise between 18 to 20 percent this year on an improved outlook for the local economy, which should further drive steel demand.
Bruno Bassi, the company’s executive director, told Brazil newspaper Valor revenues are expected to reach nearly BRL 1 billion ($300 million) or BRL 900 million ($269 million) this year. As for 2019, revenues could surpass the BRL 1 billion ($300 million) mark.
The executive said there should be a growth in demand for steel thanks to new electricity transmission lines. The distributor sells steel products that help sustain electricity towers. Demand for the local automotive and agricultural segments should increase as well, Bassi said.
Acotubo has units in the states of Sao Paulo, Minas Gerais, Rio de Janeiro, Parana and Rio Grande do Sul.