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Brazil's MetalAorgica Gerdau aims to raise $319 mln in private offer

2015-10-29 12:45:46| Steel - Topix.net

Oct 29 MetalAorgica Gerdau SA, the investment holding company that controls Brazilian steelmaking group Gerdau SA, unveiled on Thursday a plan to sell 500 million shares in a private transaction. The company will offer 170 million common and 330 million preferred shares in a process known as restricted-effort offering, Gerdau said in a securities filing.

Tags: private offer raise aims

Itau BBA's Iunes to take seat on Gerdau board

2015-09-25 13:20:59| Steel - Topix.net

Fernando Iunes, managing director at investment bank Itau BBA, has taken a seat on the board of Gerdau SA, the Brazilian steelmaker said in a statement on Thursday. Iunes takes the place of Oscar de Paula Bernardes Neto, who has stepped down.

Tags: board seat gerdau itau

Gerdau: Betting On Brazilian Stock Market Recovery With This Undervalued Steel Producer

2015-09-24 22:42:34| Steel - Topix.net

Decreasing borrowing costs due to operations in the U.S. distinguish this Brazilian producer among the domestic companies in the falling Brazilian real environment. It has become quite difficult to find fairly-valued companies at the current state of U.S. stock market.

Tags: market stock steel recovery

Brazil's Gerdau to lay off 200 workers at Pindamonhangaba steel mill

2015-09-12 01:54:44| Steel - Topix.net

Workers at the Pindamonhangaba mill of Brazil's Gerdau SA, Latin America's largest steelmaker, approved an accord that will result in the layoff of 200 workers for five months as a Brazilian economic recession cuts steel demand. The local steelworkers union in Pindamonhangaba, a city 125 kilometers northeast of the Sao Paulo, on Thursday said it had approved the deal.

Tags: steel workers lay mill