Chilean steelmaker CAP Acero, part of the CAP Group, plans to start up a specialty steel pilot mill next year, according to a media report from Diario Concepcion.
The company is reportedly eyeing the automotive sector to produce steel nuts and other products, the media report said.
The company plans to build a pilot mill to produce specialty steel with higher added-value as a way to enter the automotive market, a company executive said in the report. The initial investment for the mini-pilot plant would be around $200,000, because the company plans to use existing resources and the expertise of other local companies to run the project, at least initially.
An undisclosed US consulting company recently recommended CAP Acero to diversify its product offering.