BNamericas has reported that Mexican Grupo Villacero, with the sale of its Sicartsa steel operation to Arcelor Mittal, plans to focus on distribution and trade of the plant's products and further downstream operations.

Mr Ignacio Trevino spokesperson of Villacero told BNamericas that Villacero aims to invest the $901 million the company earned from the sale of Sicartsa after subtracting its $539million in debt in maximizing production at its steel transformation facilities in Monterrey.

Mr Trevino said that "We are going to inject resources into all these divisions to strengthen them and proceed to create products with more added value, which will allow us to consolidate our 50 year presence in the steel miniplate industry.”

Villacero's divisions not included in the sale of Sicartsa include process galvanized plates, rod, rebar and steel strips.

By selling Sicartsa steel plant and other plants, Villacero also formed a 50:50 JV with Arcelor Mittal, through which Villacero will manage trade and distribution of all Sicartsa products from Mexico.