Gerdau could acquire steelmaker Silat

Wednesday, 12 June 2019 23:34:42 (GMT+3)   |   Sao Paulo

Brazilian integrated steelmaker Gerdau is reportedly considering buying Brazilian based steelmaker Siderurgica Latino-Americana (Silat), according to a media report from Valor.

Valor did not report further details about the potential acquisition, but Gerdau has been divesting from non-core assets in the past few years, including rebar mills and fabrication facilities in the US, as well as businesses in Spain and India.

Silat is based in the Brazilian state of Ceara and operates a 600,000 mt/year rebar and wire-rod mill. It is owned by Spanish group Hierros Añón.

Gerdau owns a steel mill near 12.4 miles from Silat, which has a 160,000 mt/year capacity.

Most Recent Related Articles

Pacific Northwest dock delivered prices for shredder feed scrap

Local Turkish rebar spot prices stable except in Izmir region

Egyptian and Emirati wire rod in demand in Saudi Arabia

Ship scrap prices fall in Turkey’s Izmir region

Turkey's coking coal imports down 0.9 percent in January-November