Brazilian integrated steelmaker Gerdau told SteelOrbis on Monday it will transfer certain corporate offices from Porto Alegre, in the southern state of Rio Grande to Sul, to Sao Paulo, in the state of same name. The move is part of a company’s corporate governance restructuring announced in August.
Gerdau said headquarters for the company’s Brazilian division as well as its long and specialty steel operations are already located in Sao Paulo. The company's global headquarters will remain in Porto Alegre, along with two mills in Sapucaia do Sul and Charqueadas, both in the state of Rio Grande do Sul.
Sao Paulo is one of Latin America’s largest cities and home to Brazil’s largest financial market and to Bovespa, where Gerdau’s stocks are traded.