The head of Chilean steel and iron ore producer Cap SA has said that the company is seeking to enter Colombia’s steel processing market, Marketwatch reported Tuesday.
Chief Executive Jaime Charles reported that the company hopes to enter the Colombian market, which is rapidly expanding, through an acquisition, but added that Cap SA is willing to consider starting from scratch in the country if such an opportunity does not present itself.
Cap SA has processing plants in Argentina, Chile and Peru, and hopes to increase iron ore production by 50% to 19.8 million tons annually by the end of 2013, with $1 billion in investments.