(Image: Facebook/Gerdau)
A Gerdau (GGBR4) reported this Wednesday (18) that it entered into a contract to acquire assets from a company operating, processing and recycling ferrous scrap called Dales Recycling Partnership, through an investment of approximately US$ 60 millions.
The set of these assets includes land, inventory and fixed assets associated with Dales Recycling's operations in the states of Tennessee, Kentucky and Missouri, in the United States, according to the company.
“The acquisition aims to increase Gerdau’s capture of captive ferrous scrap through its own channels, to supply this raw material to its operations at a competitive cost,” he said.
“Gerdau clarifies that this acquisition is in line with its strategy of growth and competitiveness of operations, through assets with the greatest potential for generating value in the long term and expanding its presence in markets with greater profitability for its business.”
The acquisition was made by Gerdau Ameristeel US Inc., a subsidiary of Gerdau in North America. The closing is subject to the fulfillment of the usual conditions precedent for this type of transaction.
See Gerdau's statement