Peruvian long steelmaker Aceros Arequipa expects increased sales in 2017 compared to 2016, the company announced in a document filing at the country’s securities exchange commission.
The company has not released specific figures for sales expectations, but said it will keep its core goals, including increasing productivity and the launch of new products, at the same time it seeks to reduce costs.
The company said it will continue replacing imported feedstock for iron ore-derived raw materials, mainly domestic iron ore. Currently, Shougang Hierro Peru is the country’s only iron ore producer.
As for the ongoing year, Aceros Arequipa said it expects to continue investments, including a new rolling mill, as well as the expansion of its Lima distribution center and a new warehouse for finished products at its Pisco mill.
The company also said it expects to continue analyzing its product portfolio with the aim of optimizing it. Such an effort is expected to increase the company’s liquidity and support sustainable margins.