HomeSteel 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... Email this article Your details Your recipients's details You can enter a maximum of 5 recipients. Use ; to separate email addresses. Email yourself a copy? Enter the code: Ok To view this content, please take a free trial or subscribe to our service. Already registered? Log in Subscribe to the latest news: Personalized live and breaking news alerts Access live news and market information Access our market news archive back to 1997 Buy now Take a FREE 7 day trial: Access the past month's market insights Coverage from our experts embedded in the markets Try our global metal company database Take a trial Contact Us +44 (0) 20 7779 8260 hello.mb@fastmarkets.com Published Renato Rostás November 27, 2019 14:26 GMT São Paulo Keywords Gerdau Silat Brazil Related news {{article|snippet:'title'|removeHtmlTags}} {{article|fields:'dates'|date:dateArticleFormat}}
