Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Mexican steelmaker Grupo Simec plans to acquire steel plants in Mexico, the US, Canada, or Latin America, as part of its expansion plan to boost operations.


The company’s steel sales by volume increased by 5pc to 2.44mn mt in 2020, from 2.34mn mt in 2019, it said in its Q4 2020 earnings reported by Mexico’s stock exchange (BMV) without disclosing further details.


The company’s sales by value rose by 5.2pc to MXN35.9bn ($1.8bn) in 2020, from MXN34.1bn in 2019. 


Its domestic sales climbed by 4pc to MXN18bn in 2020, from MXN17.4bn in 2019 and its international sales also increased by 7pc to 

MXN17.8bn in 2020, from MXN16.7bn in 2019.


In the fourth quarter, steel sales by volume rose by 5.6pc to 602,000mt, from 570,000mt in Q4 2019.  


Grupo Simec reported a net profit of MXN4.1bn in 2020, compared to a net loss of MXN1.6bn in 2019. The company’s EBITDA reached MXN6.7bn in 2020, from MXN3.4bn in 2019.




Leave a Reply

Your email address will not be published.