Gerdau Laisa to invest in scrap metal
Uruguayan
longs producer Gerdau Laisa, a subsidiary of Brazilian steel producer Gerdau Grupo has announced that it will invest to secure
scrap metal supply in order to expand its
production.
The company plans to invest $5 million in many areas in 2005.
The company also stressed the importance of
scrap in steel
production as it consumes one third of the energy that is used to make the same steel from
iron ore.
Gerdau Laisa imports
scrap metal from
Paraguay as domestic availability of the subject raw material is tight.