Gerdau reports that the company has signed a contract to sell 100% of his operation in Chile to the Chilean family-owned group Matco and Ingeniería Inversiones.
The goods sold were long steel industrial units with an annual steel production capacity of 520,000 tons. The value of the transaction was US$154 million.
The completion of the transaction is awaiting the approval of the Chilean antitrust authority. The transaction will correspond with the Company's process of optimizing its asset portfolio to support higher profitability and debt reduction.
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