Belo Horizonte, Brazil-based flat-rolled steelmaker Usiminas plans to grow its share of Brazil's galvanized steel market-eventually increasing market share from 5 percent to approximately 30 percent.
Usiminas will increase its production of galvanized plate and coils six-fold through the end of 2011. The decision comes as Usiminas faces immense competition from domestic Brazilian producers, as well as competitively priced imports. According to the company's most recent quarterly financial report, Usiminas recorded a 96 percent decline in net income in Q1 2011 to largely to mounting competition.