Gerdau posts strong N. America results

Jul 30, 2014 | 05:42 PM | Nat Rudarakanchana

Tags  Gerdau, Gerdau North America, earnings report, steel, Nat Rudarakanchana

NEW YORK — Gerdau SA’s North America business saw significantly higher production, sales and earnings in the second quarter due in part to strong demand.

The North American unit, which excludes Mexico and special steels, posted gross profits of 277 million reals ($123.4 million) in the three months ended June 30, up 48.1 percent from 187 million reals in the same period last year. Sales totaled 3.58 billion reals ($1.59 billion), up 15.8 percent from 3.09 billion reals in the same comparison, the....

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