Gerdau investing $411.1 million to expand capacity at Brazilian and US mills

Tuesday, 14 May 2019 22:46:20 (GMT+3)   |   Sao Paulo

Brazilian integrated steelmaker Gerdau plans to invest a combined BRL 1.6 billion ($411.1 million) to expand capacity at several US and Brazilian mills, according to the company’s Q1 earnings presentation.

The company’s largest investments will include BRL 532 million ($133.9 million) for increased special bar quality (SBQ) capacity at its Pindamonhangaba mill by 2020, and BRL 456 million ($114.7 million) for increased capacity for beams and merchant bar at its North American facilities by 2021.

Gerdau also plans to increase HRC capacity at its Ouro Branco mill in Minas Gerais state by investing some BRL 380 million ($95.6 million) and a further BRL 266 million ($66.9 million) for increased SBQ capacity at its Monroe, Michigan plant.

USD = BRL 3.97 (May 14)

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