Peruvian steelmaker Aceros Arequipa said in a document filing it will set up a subsidiary in Colombia. Aceros Arequipa said the Colombian subsidiary will be called Aceros America S.A.S., with business aimed at supporting the steelmaker’s operations and existing client portfolio in Colombia.
Aceros Arequipa will own 100 percent of Aceros America S.A.S, the company said, adding that it will make a subscribed share capital injection of $8.3 million (PEN 30.3 million).
As previously reported by SteelOrbis, Aceros Arequipa plans to expand its footprint in South America. The company also said recently it was eyeing growth in the Bolivian market.