Brazilian steelmaker Gerdau will maintain its investment targets for 2017, the company said in a conference call this week while releasing its quarterly results.
The steelmaker plans to spend BRL 1.3 billion ($400 million) by the end of this year, same as the full-year investment results in 2016.
The company’s CEO, Andre Gerdau Johannpeter, said the company’s priorities for 2017 will continue to be free cash flow generation, selectivity in Capex spending, and reduced debt.