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Gerdau Buys SILAT Steel Mill in Brazil

Steel News - Published on Fri, 29 Nov 2019

Image Source: diariodoaco.com.br
Brazilian steelmaker Gerdau SA has agreed to purchase Siderurgica Latino Americana SA in north-eastern Brazil from Spain’s Hierros Anon SA for USD 110.8 million. SILAT is located near the city of Fortaleza and has an installed production capacity of 600,000 tonnes per year. The deal involved buying 96.35% of Silat from Spain's Hierros Añon and Gallega de Mallas/

Silat is focused on the civil construction market, producing rebar, welded mesh, steel mesh and lattice. The company was established in Ceará in 2012 and the project also foresaw in a second stage the production of 700 thousand tons per year of laminated sheets for use in the naval industry, wind towers, white line and automotive, according to Ceará government data.

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Posted By : Rabi Wangkhem on Fri, 29 Nov 2019
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