CHICAGO MMFX Steel Corp. plans to introduce its high-strength, corrosion-resistant reinforcing steel to Chile as the company looks to bolster its presence in South America.
The Irvine, Calif.-based subsidiary of MMFX Technologies Corp. chose Chile because of the countrys huge coastline, its big mining industry and the opportunities both offer.
Chiles corrosion issues make it a prime market for MMFXs uncoated, corrosion-resistant reinforcing steel and an excellent first step for expansion of our product sales in South America, MMFX president Michael Pompay said in a statement Wednesday.
MMFX, which claims its reinforcing steel is five times more corrosion-resistant than the conventional product, already sells its products in North America and the Middle East. The company will be represented in South America by Chilean shipping and logistics company Broom Group SA, it said.