Colombian Iron and Steel Company Buys Plant in Panama

With an investment of $10 million, Ferrasa S.A. acquired the Aceros Transformados Panamá and a distribution center in the country.

Thursday, June 11, 2009

The Colombian Steel Group based itself in Panama due to the high rate of economic growth and the growth in the construction sector with the objective of serving the entire Central American region from Panama.

According to Portafolio.com.co, "The establishment of Ferrasa abroad also was motivated by the need to provide products and services to foreign and Colombian businesses which contribute to the expansion projects in the Panama Canal."

Ferrasa S.A. has more than 45 years of operation in Colombia and, at present, it covers 15% of the Colombian steel market.

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