Business View Caribbean - May 2015 79
BEST PRACTICES IN BUSINESS
dustry giants ArcelorMittal and NuIron Unlimited.
The former has steel-making operations in more than 20 coun-
tries on four continents, in both developing and developed mar-
kets. It reported 2013 revenues of US$79.4 billion and crude
steel production of 91.2 million tons, which represents around
6 percent of world steel output.
Around 38 percent of its steel is produced in the Americas, 46
percent in Europe and 16 percent in other regions, including
Kazakhstan, South Africa and Ukraine. It is focusing efforts for
future growth on the emerging economies, particularly Brazil
and India, with joint ventures under way in the Middle East and
China. The latter, meanwhile, produced more than 19.8 million
tons of steel in 2012 between itself and wholly-owned subsid-
iaries Harris Steel, The David J. Joseph Company and Skyline
Steel, making it the largest manufacturer of steel products in
North America.
“There is no other steel industry in Trinidad. Those two are the
only ones,” Bodu said. “Nobody else does what we do. In fact, in
this type of business, we are one of the few worldwide.”
That sort of exclusivity should, in Bodu’s estimation, result in
some additional potential growth. Toward that end, too, opera-
tions will continue to be upgraded in Chile and that site is ex-
pected to develop more business.
But varying the collection of assets is vital going forward as well,
he said.
“The key for us is to diversify our portfolio,” Bodu said.
“We’re still working at our core business – which is the byprod-
ucts from the steel industry – but the sophistication of our ser-
vice and diversification of our business portfolio is the key”
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DRI Shipping (Trinidad and Tobago)
