According to Mr Edgar Jiménez steel analyst and university professor, the process of mergers and investments in Colombia's steel sector a few years ago should now be bearing fruit.

Mr Edgar told BNamericas that "There were several deals done and we're now expecting that investments made at the time begin to show results.” He stressed that although these processes are slow and long term, it is expected that the steel sector will soon start to pick up.

He also pointed out that there is still much to be done in Colombia's steel sector, saying that "I think that it's going to happen, but it requires patience."

Two of the biggest deals in the industry were the purchase of 52% of local steelmaker Acerías Paz del Río by Brazilian group Votorantim and the acquisition of Diaco by Brazil's Gerdau. And although local outfit Sidenal received bids from groups such as European giant ArcelorMittal, Gerdau and Ternium these were unsuccessful.
(Sourced from BNamericas)