Workers at Gerdau’s Pindamonhangaba mill, located in São Paulo state, went on strike on Thursday, according to a local union, asking for a better share of the company's profit and result sharing (PLR), whose policy was reportedly changed.
The union said Gerdau Pindamonhangaba’s employees did meet their targets on increased production, but the bonuses did not come as expected.
The Pindamonhangaba EAF mini-mill has a 620,000 mt/year crude steel capacity, producing bars, wires, wire rod, finished and rolled bar, as well as rolling mill products.
Earlier this year, Gerdau said in a document filing it was planning a BRL 532 million ($110 million) investment at its Pindamonhangaba site to expand capacity by 400,000 mt/year for special quality bars (SQB).