Month: August 2017

Dominican steel industry reaches over 30 markets

Dominican steel industry reaches over 30 markets

The steel products produced in-country reach 30 markets overseas, with Cuba being the latest addition. Since 1980, a vast array of products is exported to Puerto Rico, Cuba, Jamaica and Haiti, among them rods, profiles, cornerstones among other construction commodities.

A core reason for this is the geographic location of the Dominican Republic, seen by industrials as a logistics vantage point, and as explained by Carlos Valiente, CEO of Gerdau Metaldom, these reach not only the Caribbean isles, but the U.S., Venezuela, and a great part of South America, like Guyana, Suriname and St. Vincent. However, the local market remains as Gerdau Metaldom’s forte.

Most of the raw material is purchased abroad (Brazil, Europe, Mexico and China).

Gerdau Metaldom, attends to different construction segments, -infrastructure, industrial, commercial, agribusiness, and distribution to hardware stores-. It has been graded by Fitch and Feller Rate. In the last 4 years, the situation has become very competitive, due to global excess capacity in steel production, especially in China and GCC countries and Turkey, which are the greatest international competitors.

“We keep very active in Central America, in some of the Greater Antilles and with advantages to reaching the Lesser Antilles. Last year, we made our first export to Cuba”, Valiente said. Steel is considered a commodity, and is highly coveted because of its origin, its processes are certified and worked in a customer-based culture, due to its producers also being distributors and featuring an important relationship with the most renowned local hardware stores and in other markets, as is the case of Puerto Rico, where, according to Valiente, the industry holds important clients.

They also make direct sales to large construction companies, to which they offer shaped products that meet global safety standards.

“It isn’t about an ordinary rod, these are made meeting specific market conditions to be used in the D.R.”, Vanegas said, and that is why the combination in specifications for RTD, meeting all norms”.

The rods produced for Costa Rica show the origin, thus displaying “made in Dominican Republic”

About Gerdau Metaldom:

It is the first multinational company in the steelworks sector of the Dominican Republic, with important market share in several Central American and Caribbean countries, such as Costa Rica, Puerto Rico, Haiti, Jamaica and others.

The company hosts three facilities in Santo Domingo, with a setup capacity of one million metric tonnes for lamination of steel bars. It produces bars -long and flat- for the civil construction, industrial, agribusiness sectors, and operates in PVC and metallic products.

About INICIA:

INICIA is a private asset management firm that operates through partnerships with unique managers focused on the Northern Latin American Region to capture long-term value for investors, clients, partners and associates.

SOURCE: http://www.listindiario.com/economia/2017/07/24/475287/industria-del-acero-llega-a-mas-de-30-mercados