Gerdau SA has entered into a definitive agreement with Optimus Steel to sell its Beaumont wire rod mill and two downstream facilities in Texas for $92.5 million.
The Beaumont steel mill has melt capacity of around 700,000 tons per year and rolling capacity of 800,000 tpy. The mill produces wire rod and coiled rebar. The downstream facilities are Beaumont Wire Products and Carrollton Wire Products. The former includes a wire mesh mill, while the latter supplies industrial wire into the greater US southern region, according to a statement from Optimus Steel.