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Gerdau Sells Chilean Long Steel Business
10/06/2017 - Gerdau SA is divesting its Chilean assets for US$154 million, the company has announced.
Gerdau said the deal with family-owned Matco and Ingeniería e Inversiones is pending approval of the Chilean competition authority.
“This movement is aligned with the company's asset optimization process, focusing on profitability and reducing its financial leverage,” Gerdau said in a statement.
The assets being sold consist of its Chilean long steel units, which have a combined annual capacity of 520,000 metric tons.
