Gerdau announced acquisition of Silat

Gerdau, a steel manufacturer based in Brazil, had announced its intention to acquire Siderúrgica Latino Americana (Silat) in November 2019.

After receiving approval from CADE (Administrative Council for Economic Defense) in September of this year, Gerdau has successfully acquired Silat. Silat is based in Ceara, Brazil, and has an annual capacity of 600,000 tons of rebar and wire rods.

Gerdau has acquired 96.35% of Silat's shares and completed the transaction on November 30.