It is learned that Brazil's Usiminas inaugurated new steel factory in Santos, Brazil that costs BRL2.5 billion and is able to produce 2.3 million tons of rolled sheets per year.
The company targets new opportunities in Brazil to increase their sales and profits, including sectors of oil and gas, marine and machinery industries.
The President of Usiminas, Julin Eguren, said the new investment in Santos is important for the company because it contributes in a range of products that Brazil has to import.
Besides, Usiminas also sees contracts in Colombia, Mexico and USA, with potential partnership with Ternium. The president said Ternium has great commercial presence in Latin America and can be a great promoter of Usiminas.
The president expects to maximize profit by these new investments, along with internal improvement of operational efficiency and cost down.