Leeco Steel’s CEO and President, Denton Nordhues, sees an opportunity for Leeco Steel Trading to offer new raw material imports as the division expands.
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“As our trading division continues to grow, we are expanding our import capabilities to meet customer demand,” Denton said. “Plastics, fertilizers and pharmaceuticals are a few raw material categories in high-demand that we plan to begin offering to our customers. We look forward to forging new relationships during this expansion and continuing to better serve our Latin American region customers.”
Despite signs of a regional economic slowdown, Mexico and Chile recently reported some economic news pointing to future growth.
Mexico’s economy is currently holding steady, with increased foreign investments, declining inflation and an appreciating currency. Mexico received $10 billion USD in foreign direct investments during the first quarter of 2019, up 7% from the same quarter last year. Mexico also started 2019 with a lower-than-expected inflation rate of 4.43%, and the peso appreciated 6% since President Andres Manuel Lopez Obrador took office in December of 2018.
The potential growth of Chile’s economy experienced a sharp increase as a high number of immigrants entered the country from Venezuela. The increase in immigration to Chile led to a larger potential workforce.