Inland Steel in Joint Venture with Mexican Steel Maker With AM-Mexico-NAFTA Survey
CHICAGO (AP) _ Inland Steel Industries Inc., the fifth-largest U.S. steelmaker, announced a joint venture Wednesday with Mexico’s largest steel company.
Inland Steel and Altos Hornos de Mexico said the new company, Ryerson de Mexico, will provide materials handling services to their customers in Mexico. It will be based in Monterrey, Mexico.
They estimated that Ryerson de Mexico initially will generate $100 million in revenues annually. The partners will share equally in the company’s financial results.
The joint venture will specialize in inventory management, distribution and logistics of transporting metal and other construction materials, Inland spokesman Robert Weidner said.
Inland, based in Chicago, is the nation’s largest provider of steel services through its Joseph T. Ryerson & Son and J.M. Tull Metals Co. subsidiaries.
Altos Hornos de Mexico, known as AHMSA, is a subsidiary of Grupo Acerero del Norte, also known as GAN, a Mexican company with interests in mining, chemicals and energy.