CAP SA’s Chilean long steel producer, CAP Acero has reported a net profit of $ 4 million in Q3 of 2021 as compared to net loss of $ 14 million in Q3 of 2020. Net revenues in Q3 of 2021 rose 59% YoY to $ 192 million. EBITDA rose to $ 14 million in Q3 2021, from an EBITDA loss of $ million in Q2 2020. The company said steel selling prices in Q3 grew 73% YoY to $971 per tonne from $ 562 per tonne in Q3 of 2020.Steel sales volumes in Q3 this year rose 4 % YoY to 189,000 tonnes.The CAP Acero steel plant, known in Spanish as Siderúrgica Huachipato, is Chile's only integrated steel mill. It is owned and operated by Compañía Siderúrgica Huachipato SA, the steelmaking division of Grupo Compañía de Acero del Pacífico. CAP was founded in 1946 as a joint venture between the Chilean government agency CORFO (33%), the Caja Autónoma de Amortización de la Deuda Pública (14%), and private shareholders (53%). The company, renamed Grupo de Empresas CAP in 1981, was entirely privatized in 1987. Construction of the steel plant began in early 1947, and it was officially inaugurated on November 25, 1950. Since 1950 CAP has maintained its position as Chile's leading steel producer and processor, while steadily modernizing and upgrading its infrastructure. The plant's blast furnace/basic oxygen furnace system is fed with iron ore from CAP's own mines. The plant's continuous casting facilities and rolling mill transform the resulting steel into slabs, billets, and a variety of products destined for national and international markets, including cold- and hot-rolled steel, grinding bars, rebar, and wire rod for use in construction, mining and other industries.
CAP SA’s Chilean long steel producer, CAP Acero has reported a net profit of $ 4 million in Q3 of 2021 as compared to net loss of $ 14 million in Q3 of 2020. Net revenues in Q3 of 2021 rose 59% YoY to $ 192 million. EBITDA rose to $ 14 million in Q3 2021, from an EBITDA loss of $ million in Q2 2020. The company said steel selling prices in Q3 grew 73% YoY to $971 per tonne from $ 562 per tonne in Q3 of 2020.Steel sales volumes in Q3 this year rose 4 % YoY to 189,000 tonnes.The CAP Acero steel plant, known in Spanish as Siderúrgica Huachipato, is Chile's only integrated steel mill. It is owned and operated by Compañía Siderúrgica Huachipato SA, the steelmaking division of Grupo Compañía de Acero del Pacífico. CAP was founded in 1946 as a joint venture between the Chilean government agency CORFO (33%), the Caja Autónoma de Amortización de la Deuda Pública (14%), and private shareholders (53%). The company, renamed Grupo de Empresas CAP in 1981, was entirely privatized in 1987. Construction of the steel plant began in early 1947, and it was officially inaugurated on November 25, 1950. Since 1950 CAP has maintained its position as Chile's leading steel producer and processor, while steadily modernizing and upgrading its infrastructure. The plant's blast furnace/basic oxygen furnace system is fed with iron ore from CAP's own mines. The plant's continuous casting facilities and rolling mill transform the resulting steel into slabs, billets, and a variety of products destined for national and international markets, including cold- and hot-rolled steel, grinding bars, rebar, and wire rod for use in construction, mining and other industries.
