Gerdau Finalizes Rebar Mill Acquisition
12/03/2020 - Gerdau SA has completed its US$110.8 million acquisition of a long products mill in northeastern Brazil.
In a statement, Gerdau said the addition of Siderúrgica Latino-Americana SA (Silat) to its operations will allow the company to strategically expand operations in the northeast. It also coincides with a recovery in Brazil’s civil construction sector, it said.
“In addition to remaining optimistic with the gradual resumption of the Brazilian economy, Gerdau has been strengthening its commitment to generating income and business in Ceará. To this end, we invest in improving the competitiveness of our operations and in growing the portfolio of products and solutions. One of our strategic objectives is to strengthen, more and more, the relationship with our customers,” said Marcos Faraco, vice president of Gerdau Aços Brazil, Argentina and Uruguay.
Silat has an annual installed rolling capacity of 600,000 tons and produces rebar, welded mesh, steel mesh and trusses, Gerdau said.