Acesco plans to invest $6mn to convert some of its production lines in 2021 to make a new galvanized steel product at its facility in Malambo, Colombia.
The Colombian steelmaker’s executive president Felipe González told the local media that this new product, called Metalum, will be exported to Chile, Peru, and Ecuador. He added that the product will also be consumed in Colombia and is expected to be shipped to Florida, US.
The company did not disclose the volume of Metalum it plans to produce per year nor did it give details about the conversion process of its lines for the product. However, some media reports estimate that the South American company could sell 200,000mt of the steel product in 2021.
Colombia’s steel output dropped by 4.3pc to110,000mt in August from 115,000mt produced in the same month last year.