The Mexican company Prominox, the largest stainless steel distributor in Mexico, announced that it fully integrated into its operations the business purchased in the country from the global stainless steel giant Outokumpu.
“After several months of hard work, the agreement was closed to integrate the teams and branches of Guadalajara, Monterrey and Tlalnepantla of the Outokumpu distribution business into our distribution network,” the Mexican company reported on Wednesday.
The business mentioned was called Outokumpu Mexinox Distribution (OMD), the stainless steel distribution business of the Finnish company in Mexico.
The financial terms of the purchase and sale were not disclosed by the parties. According to the corporate financial advisory platform for all of Americas, 414 Capital, Prominox is the largest stainless steel distributor in Mexico.