Brazil’s Gerdau buys out Sumitomo Corp and JSW in Gerdau Summit
Miguel Burnier mine (Image: Gerdau)
Brazilian steelmaker Gerdau has signed a deal to buy out the stakes owned in Gerdau Summit by its joint venture partners Sumitomo Corporation and Japan Steel Works, it said on Thursday in a securities filing.
According to Gerdau, it will buy a 39.53% slice owned by Sumitomo and a 1.74% stake from JSW, with a total cost of $32.6 million.
The transaction is expected to close in early 2025, Gerdau said.
(By Luana Maria Benedito; Editing by Jan Harvey)
More News
Contract worker dies at Rio Tinto mine in Guinea
Last August, a contract worker died in an incident at the same mine.
February 15, 2026 | 09:20 am
{{ commodity.name }}
{{ post.title }}
{{ post.date }}
Comments