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.