Gerdau buys Brazilian long steel producer Silat for $111 million

Brazilian steelmaker Gerdau has agreed to buy 96.4% of Siderúrgica Latino-Americana (Silat) shares from Spanish group Hierros Añón for $110.8 million, in a shift from its divestment strategy of the past four years.

Silat is located in Caucaia, a city in the northeastern Brazilian state of Ceará, and has capacity of 600,000 tonnes per year of long rolled steel. The company mainly produces rebar and wire rod.
“The acquisition is part of Gerdau’s strategy to provide better customer service in the Brazilian market,” the steelmaker said on Wednesday November 27.

The...

Published

Renato Rostás

November 27, 2019

14:26 GMT

São Paulo