Gerdau Investing in Auto Steel Production in Brazil
Brazilian integrated steelmaker Gerdau will invest BRL 1 billion (USD 180 million) in its specialty steel operation in Brazil. Gerdau specialty steel business Vice President Mr Rubens Pereira told media that the company will invest the funds between 2021 and 2022 to increase the production capacity steel used mainly in the automotive industry and in modernizing its operations. Investments will be made in the three company units Charqueadas and Mogi das Cruzes and Pindamonhangaba.
The Charqueadas mill is located in the city of same name in Rio Grande do Sul state, while the other two are located in Sao Paulo state.
Gerdau produced 661,000 tonnes of specialty steel in Brazil in 2020. It plans to produce 880,000 tonnes of the product in 2021.