BNamericas – Açotubo eyeing increased market share in Brazil’s south
Açotubo eyeing increased market share in Brazil’s south
As part of an expansion plan, Brazilian steel product distributor Açotubo is looking to improve the market share of its operations in southern Brazil by opening a commercial office in Joinville, Santa Catarina state.
“Brazil’s south is an important industrial hub for Açotubo, where we concentrate three of our branches. But with our new Santa Catarina office, we want to increase revenues, which already account for about 25% of the company’s total,” corporate executive manager Bruno Bassi told BNamericas.
“Currently, most of our local activities are represented by the Canoas and Curitiba offices [in Rio Grande do Sul and Paraná states, respectively], and our expectation with the launch of the Joinville office is to increase market share throughout the region,” Bassi added.
According to Bassi, Açotubo’s representatives are now strategically located in all three southern states.
The company said in February that its total investments in 2018 reached 50mn reais (US$12.6mn) and it forecast another 17mn reais in disbursements this year, with some 47.5% allocated to infrastructure and integrated management systems.
The move is one of the company’s measures to reach 1bn reais in sales revenues this year after reporting 13.7% growth last year, news service Canal Executivo reported at the time.
In April last year, Açotubo’s financial director Wilson Bassi told BNamericas that the company was seeing strong demand from sectors such as autos, sugar and alcohol, machinery and equipment, agricultural and domestic appliances.
The 44-year old company is headquartered in Guarulhos, São Paulo state, and has nine branches strategically in eight states for the supply of regional metal-mechanical hubs.
BNAmérica – Published: 08/07/2019