Gerdau shines in North America; plans more investments
May 03, 2012 | 05:32 PM
|
Tags
Gerdau earnings,
investment,
steel,
Michael Cowden
TORONTO — Gerdau SA plans to boost investments at its U.S. operations in order to meet increased demand for specialty steels, the company said in releasing its quarterly results.
The Porto Alegre, Brazil-based steelmaker said it invested 691 million reais ($361.8 million) in fixed assets in the first quarter of 2012, of which 70 percent was invested in Brazil.
In the U.S., Gerdau said it planned to install new continuous casting equipment at its steel mill in St. Paul, Minn. The investment of 91 million reais ($47.6 million) is expected to boost capacity by 90,000 tonnes per year, bringing total annual capacity to 500,000 tonnes.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here