Brazilian integrated steelmaker Gerdau said on Tuesday a local court ruled that the company must pay BRL 417.8 million in fines following a lawsuit filed by two civil construction unions, on claims Gerdau broke “anti-trust” laws.
Gerdau did not provide further details on the lawsuit nor the union claims. Gerdau said the decision was not formally published and it will seek “all legal remedies” to dispute the matter.
As the lawsuit was filed at lower court, Gerdau may appeal the decision.