Gerdau Ameristeel Corporation, the second largest mini-mill steel producer in North America serving throughout US and Canada, announced on Friday, January 8, that it will defer the early adoption of International Financial Reporting Standards (IFRS) until periods beginning on or after January 1, 2010.
As previously disclosed in prior filings, Gerdau Ameristeel was contemplating either adopting IFRS for 2009 or deferring adoption until 2010. The company was granted approval by the Ontario Securities Commission to adopt IFRS for periods beginning on or after January 1, 2009, a company press release said.