Gerdau invests Real 83 mio in Ceara plant expansion

Gerdau invests Real 83 mio in Ceara plant expansion

According to the statement released by Brazilian longs producer Gerdau Group, the company will invest Real 83 million ($27 million) to expand Gerdau Cearense, a steel mill located in the state of Ceara. The investment which will take place over the next five years will increase current production capacity of the mill by 50% to 150'000 mts. Moreover, quality of the products of Gerdau Cearense will be improved. The most important part of the investment project is the new rolling mill natural gas reheat furnace, which was purchased for Real 7.5 million ($2.4 million). The new furnace heats billets produced in the melt shop and transforms them into final products such as rebar, bar and angles. Moreover, the new furnace adjusts the temperature depending on the type of steel.