Steel Products
February 1, 2018
Gerdau Divests Another U.S. Mill
Written by Tim Triplett
Gerdau SA is divesting its Beaumont, Texas, wire rod mill and two downstream operations, Beaumont Wire Products and Carrollton Wire Products, to reduce its footprint in the U.S. long products market. Optimus Steel LLC will acquire the facilities for $92.5 million in a deal to close by the end of the year.
The sale is the latest in a series of divestments worth more $1 billion. “The strategy in North America, a key market for us, is to improve our profitability, focus on more value-added products and better serve our customers,” said Gerdau CEO Gustavo Werneck. “We remain committed to strengthening our position in the U.S. in the next years and we see a great growth potential in the markets that Gerdau will continue to operate.”
