CAP Group’s new general manager to lead modernization efforts

CAP Group’s new general manager to lead modernization efforts

Posted on by admin

Chilean iron ore and steelmaking holding company CAP Group has named a new general manager who is expected to the lead the group’s modernization process, CAP Group said in a statement.

Civil engineer Julio Bertrand Planella will assume the role on May 4, 2020, and will “lead the company’s transformation processes initiated last year, with a focus in the consolidation of a new corporate governance, as well as the update and implementation of a modern business strategy,” the statement said.

The company said it expects to “recover the good results that positioned it as the key and most important mining and steelmaking group in the American Pacific Coast.”

CAP Group posted a net loss of $104 million for full-year 2019, and the group’s long steel business, CAP Acero, also reported a net loss of $114.1 million, on weaker steel selling prices and sales volumes, as reported by SteelOrbis.

source: steelorbis

Leave a Reply

Your email address will not be published. Required fields are marked *