Mexican steel producer Industrias CH (ICH) announced this week that it has $611 million in cash available to make acquisitions next year.
Sources close to the firm said that increased operations would materialize in the short term, depending on the recovery of the domestic market in infrastructure construction.
The company has confirmed that it intends to add new companies to its operations, but it still expects a good deal when considering acquisitons.
Meanwhile, Fernando Bolaos, an analyst with Monex, said that in 2014 there will be an estimated 8.8 percent growth in sales and 23.4 percent in the company’s operating cash flow. "Purchases can be specialized to focus on small manufacturing steel or steel pipe, as previously happened when acquired for $538 million Corporación Aceros DM in 2008," he said.
