Brazil steelmaker
Gerdau announced it will close its specialty steels unit in the city of Sorocaba, in the state of Sao Paulo.
In a statement,
Gerdau said it will transfer its finished steel production in Sorocaba to Mogi das Cruzes, in the state of Sao Paulo, as a result of a “need of optimization of operations activities in the segment of specialty steels.”
Gerdau justified its decision by saying
Brazil’s steel industry has been living in a “complex scenario”.
About 160 employees will be laid off, according to local unions.