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Brazil Gerdau Plans $67 Million Expansion Of US Specialty-Steel Works

DOW JONES NEWSWIRES RIO DE JANEIRO -(Dow Jones)- Brazilian steelmaker Gerdau SA (GGBR4.BR) will invest $67 million to expand production and improve product quality at its Monroe specialty-steel works in Michigan, the company said Friday. Gerdau will install new steel reheating, rolling and ancillary equipment at Monroe to expand the plant's production capacity for long-rolled specialty-steel products including bars to more than 800,000 metric tons a year by the second half of 2013, the company said in a statement. The latest investment follows a previous investment in 2010, also of $67 million, which modernized and expanded operations at Monroe, Gerdau said. The investment forms part of a broader plan to expand specialty-steel capacity at Gerdau's works in the U.S., including at Fort Smith in Arkansas, Jackson in Michigan and St. Paul in Minnesota. The company is also carrying out market studies to define the site for a new specialty-steel production works in North America, it said. "The continuing investments at Monroe are a result of our confidence in the recovery and growth of the North American market, as well as our commitment to the local community," Gerdau Chief Executive Andre Gerdau Johannpeter said in the statement. -By Diana Kinch, Dow Jones Newswires; 55-21-2586-6086; diana.kinch@dowjones.com

Stock News for Gerdau (GGB)
DateTimeHeadline
06/29/201616:13:00SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Shareholders...
06/29/201610:30:00Glancy Prongay & Murray Announces the Filing of a Securities...
06/24/201611:32:00SHAREHOLDER ALERT: The Law Offices of Vincent Wong Reminds Investors...
06/23/201612:34:57Report of Foreign Issuer (6-k)
06/23/201605:30:00JULY 25, 2016 DEADLINE: Lundin Law PC Announces Securities Class...
06/20/201611:55:23INVESTOR ALERT: The Law Offices of Vincent Wong Reminds Investors...
06/16/201617:45:00IMPORTANT SHAREHOLDER NOTICE: Khang & Khang LLP Announces the...
06/16/201605:30:00SHAREHOLDER ALERT: Lundin Law PC Announces Ongoing Investigation...
06/15/201615:23:00DEADLINE ALERT: Brower Piven Reminds Shareholders of Approaching...
06/14/201611:40:35INVESTOR ALERT: Levi & Korsinsky, LLP Reminds Shareholders of...
06/13/201609:34:51Report of Foreign Issuer (6-k)
06/10/201618:02:31SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with...
06/10/201612:56:00SHAREHOLDER ALERT: Rosen Law Firm Reminds Gerdau S.A. Investors...
06/08/201616:56:00IMPORTANT INVESTOR NOTICE: Lundin Law PC Announces Ongoing Investigation...
06/08/201614:26:00Glancy Prongay & Murray Commences Investigation on Behalf of...
06/06/201609:11:00Law Offices of Marc S. Henzel Announces Investigation of Companies...
06/03/201623:30:00INVESTOR ALERT: Brower Piven Encourages Shareholders Who Have...
06/03/201618:35:00SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with...
06/02/201619:50:00INVESTOR NOTICE: Khang & Khang LLP Announces an Investigation...
06/02/201618:22:00Robbins Arroyo LLP: Gerdau S.A. (GGB) Misled Shareholders According...

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