November 27, 2019 / 12:07 PM / 12 days ago

Gerdau buys steel mill in northeast Brazil for $111 million

RIO DE JANEIRO, Nov 27 (Reuters) - Brazilian steelmaker Gerdau SA has agreed to purchase a steel mill in northeastern Brazil from Spain’s Hierros Anon SA for $110.8 million, the firm said in a Wednesday securities filing.

The mill, known as Siderurgica Latino-Americana SA, or SILAT, is located near the city of Fortaleza and has an installed production capacity of 600,000 tonnes per year, the company said.

Reporting by Gram Slattery, editing by Louise Heavens

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