Peruvian steelmaker Aceros Arequipa has announced it will launch a subsidiary in Bolivia as a way to support the clients it has in the region.
According to the Peruvian steelmaker, the new subsidiary was launched in July and will operate under the name Corporacion Aceros del Antiplano SRL.
Aceros Arequipa has a 99 percent stake in the project, while logistics company Transportes Barcino SA has a 1 percent minority stake.
“The established company will allow Aceros Arequipa strengthen the commercial ties it has for years with diverse clients in Bolivia,” the company said in a filing at the nation’s securities stock exchange commission, SMV.
Aceros Arequipa said it contributed with $93,720 in assets and $50,000 in cash to establish the Bolivian subsidiary.