Industrias CH's new acquisition.Grupo Simec, a subsidiary of Industrias CH, and Industrias CH have acquired 100% of the stock of PAV Republic, the leading producer of special bar quality (SBQ SBQ Sociedade Brasileira de Quimica (Portugese) SBQ Special Bar Quality ) steel in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Simec will acquire 50.2% of Republic's stock and ICH See Intel Hub Architecture. will purchase the remaining 49.8%. As a result of the acquisition, this line of products is expected to account for 65% of the consolidated sales of Simec. The operation strategically positions Simec in a market that typically has less price volatility and a higher margin than commodity steel products. Simec revenues in the last 12 months were approximately US$ 600 million. The company expects that revenues will approach US$ 1.8 billion in the next 12 months. Republic, together with Simec, will become the largest producer of this kind of steel in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . [ILLUSTRATION OMITTED] |
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