MUMBAI, India — Brazil-based steel producer Gerdau SA has increased its share in the Tadipatri steel plant in India.
Gerdau now holds a 99.5-percent stake in the joint venture, up from 45 percent previously.
The value of the deal was not disclosed, but Gerdau paid $71 million in 2007 for its 45-percent stake.
The plant has an installed capacity of 300,000 tonnes of special steels catering to the automotive sector.
A version of this article was first published by AMM sister publication Steel First.