Gerdau to sell US wire rod mill, downstream units to Optimus for $92.5 mln

Gerdau has entered into a definitive agreement with Optimus Steel to sell its wire rod mill and two downstream facilities located in Texas, United States, for $92.50 million, the Brazil-based steelmaker announced on Wednesday January 31.

The Beaumont steel unit has a maximum melt shop capacity of around 700,000 tonnes per year and produces both wire rod and coiled rebar.

American Metal Market’s assessment for US domestic wire rod was $630 per short tonne fob mill on January 24, up...

Published

Ana Paula Camargo

January 31, 2018

13:15 GMT

São Paulo