Gerdau likely to acquire more steel mills in North America

Gerdau likely to acquire more steel mills in North America

Brazilian steel producer Gerdau SA is reportedly planning to acquire more steel plants in the US and Mexico in order to increase its sales with higher profit margins. Currently, the company does not possess any mills in Mexico. According to the sources, Gerdau is planning to buy steel mills that buy raw materials from Gerdau, and process them into higher-priced steel products. As previously reported by SteelOrbis back in September, Gerdau completed the acquisition of North Star. With the acquisition, total production of Gerdau will increase to 16.6 million metric tons, which makes the company the world's 12th largest steel producer.