Gerdau Finalizes Divestment of Texas Mill
04/03/2018 - Gerdau SA has completed the sale of its Beaumont, Texas, wire rod mill and two downstream facilities to an entity affiliated with Florida-based Wire Mesh Corp.
In a statement, Gerdau said the deal with Optimus Steel LLC allowed it to shed 700,000 tons of meltshop capacity and downstream businesses Beaumont Wire Products and Carrollton Wire Products. Gerdau announced the US$92.5 million transaction in late January.
American Metal Market reported that the buyer is an independent affiliate of Wire Mesh.
