Gerdau investing over $180 million at its specialty steel business in Brazil

Monday, 19 April 2021 20:03:42 (GMT+3)   |   Sao Paulo

Brazilian integrated steelmaker Gerdau will reportedly spend BRL 1 billion ($180.2 million) at its specialty steel business in Brazil between 2021 and 2022, according to media reports.

The company plans to use the resources to expand output capacity. Rubens Pereira, vice-president (VP) of Gerdau’s specialty steel business, said the Charqueadas, Mogin das Cruzes and Pindamonhangaba mills will concentrate most of the investments. The Charqueadas mill is located in the city of same name in Rio Grande do Sul state, while the other two are located in São Paulo state.

Gerdau produced 661,000 mt of specialty steel in Brazil in 2020. It plans to produce 880,000 mt of the product in 2021.

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