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Brazil's Gerdau plans broad reorganization amid grim steel outlook

2015-07-14 14:21:01| Steel - Topix.net

Gerdau SA, the Americas' largest steelmaking group, announced on Tuesday a broad corporate reorganization that aims at taking better advantage of the firm's growing size in markets other than home turf Brazil amid weak demand and pricing for steel products. Under the plan, which the Porto Alegre, Brazil-based firm announced in a securities filing, Gerdau will pay 1.986 billion reais to buy out minority shareholders in four units, integrate South American operations outside Brazil in a single unit and merge the company's iron ore unit into its Brazil operations.

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