Gerdau Completes Acquisition of Silat
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Gerdau Completes Acquisition of Silat

Brazilian steelmaker Gerdau has concluded its acquisition of Siderurgica Latino Americana Silat, a long steel producer located in Caucaia in the north-eastern

Brazilian steelmaker Gerdau has concluded its acquisition of Siderurgica Latino Americana Silat, a long steel producer located in Caucaia in the north-eastern state of Ceara of Brazil, after gaining approval from anti-trust regulator Cade. Silat has capacity for 600,000 tonnes per year of long steel products, mainly rebar and wire rod.

Gerdau had first reached an agreement in November 2019 to buy 96.4% of the company’s shares from Spain-based Hierros Anon for USD 111 million. Despite having 600,000 tonnes per year of rolling capacity, Silat was struggling to produce more than 100,000 tonnes per year recently.

Gerdau owns a steel mill about 12 miles from Silat, which has a 160,000 tonnes per year capacity.

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