Grupo Gerdau buying Colombian mill stakes

Dec 28, 2004 | 09:06 AM | Diana Kinch

Brazil's Grupo Gerdau SA, Porto Allegre, is acquiring stakes in two Colombian mini-mills--Grupo Siderúrgico Diaco SA and Siderúrgica del Pacifico SA (Sidelpa)--in a bid to further boost its presence in South America.

The two companies, which already have ownership links, produce a combined 460,000 tonnes of crude steel and 605,000 tonnes of rolled products annually generating gross sales of $180 million, representing an estimated 45 percent of Colombia's steel market.....





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