Brazilian integrated steelmaker Gerdau announced on Tuesday it has partnered with building materials company Votorantim Cimentos and the Tigre Group to manage an existing loyalty program aimed at the civil construction segment in Brazil.
The loyalty program, known as Somos+, will now allow steel and other product sales to account for points, which could be exchanged for products or services.
Gerdau did not specify how the loyalty program would help it sell more steel or civil construction-related materials, and the company said the new partnership has yet to be approved by local anti-trust authority Cade.
Votorantim Cimentos will own a 45 percent of the new venture, while Gerdau and the Tigre Group will each hold a 27.5 percent stake.