Relevant fact
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- RELEVANT FACT
RELEVANT FACTGERDAU S.A. (NYSE: GGB; BOVESPA: GGBR), headquartered in the State of Rio de Janeiro, Brazil, informs that, in addition to the information disclosed in the Relevant Fact release dated November 14th, 2001, it has concluded negotiations for the acquisition of the operating assets of Birmingham Southeast, LLC. This mill is located in Cartersville, Georgia. The conditions of the deal are as follows: 1) The due diligence process was concluded. There were no relevant facts that may cause changes in the conditions previously agreed upon between the parties involved. 2) In December 28th, 2001, negotiations were concluded and the operating assets of the steel mill were transferred to the control of the Gerdau subsidiary in the United States, AmeriSteel Corp, headquartered in Tampa, Florida. 3) The total amount involved in this transaction was of US$ 48.8 million and is distributed as follows:
4) The Cartersville steel plant is located at 63 miles north of Atlanta, Georgia. It produces approximately 400 thousand tons of crude steel and rolled products per annum. Its products range from medium to large size steel merchant bars (channels, angles and flats) and steel beams, primarily for applications in the construction and industrial markets. The addition of this capacity and variety of gauges will complement and reinforce in a significant manner the presence of AmeriSteel in the North American market of profiles. 5) The operations at Cartersville add approximately 17% to the current output of Gerdau North America and 6% to the operations of the Group in consolidated terms. AmeriSteel is a subsidiary of Gerdau S.A. and headquartered in Tampa, Florida. Its activities are the production and sale of long steel products. It has an installed capacity of 2.0 million metric tons of crude steel and of 1.8 million metric tons of rolled products per year. The company operates four steel mills located in the U.S. states of Florida, Tennessee (two) and North Carolina. It also runs twenty-two downstream fabricating operations which produce finished steel products for use in the construction and industrial markets. Rio de Janeiro, December 31st, 2001 Osvaldo Burgos Schirmer CFO and Investor Relations Director Directory: enu Download 6.49 Kb. Share with your friends:
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