Brazil’s Gerdau to invest R$1 billion in specialty steel in Brazil

The investments are planned to expand capacity and upgrade the group's mills in Pindamonhangaba, Mogi das Cruzes and Charqueadas sites

RIO DE JANEIRO, BRAZIL - Gerdau will invest R$1 billion (US$17 million) in its specialty steel operation in Brazil. According to Rubens Pereira, the unit's vice-president, the company will invest the funds between 2021 and 2022 to increase the production capacity of this type of steel - used mainly in the automotive industry - and in modernizing its operations.

Investments will be made in the three company units in the country: Charqueadas (RS) and Mogi das Cruzes and Pindamonhangaba (SP). "Most of the investments will go to Pindamonhangaba in the new continuous casting, which will produce 'cleaner' and stronger . . .

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