The Gerdau Group acquires control of Siderperú

The deal was closed in a public auction on the Lima Stock Exchange by decision of the Peruvian Private Investment Promotion Agency (ProInversión)

On Wednesday, June 28, the Gerdau Group acquired control of Empresa Siderúrgica del Perú (Siderperú) with the purchase of 50% of its capital stock plus one share. The deal was closed in a public auction on the Lima Stock Exchange by decision of the Peruvian Private Investment Promotion Agency (ProInversión). The shares belonged to the Peruvian government, which is currently in the process of privatizing the company. The value of the operation totaled US$ 60.6 million, which will be paid in cash. Siderperú also has a net debt position of around US$ 102 million. Siderperú is Peru’s largest steel company, with annual sales of approximately 360,000 metric tons of finished products and 2,000 employees. Its factory is located in the city of Chimbote, to the north of Lima. Present in the market for the past 46 years, the company offers an extensive line of products in the long steel and flat steel segments. Long steel accounts for approximately 80% of its sales, with flat steel accounting for the remaining 20%. The transaction is part of the Gerdau Group’s growth strategy in the Americas. Peru, a country with 27 million inhabitants, has experienced significant economic growth over recent years. It is a market with major growth potential, importing approximately 50% of the steel it consumes. As winner of the auction, the Gerdau Group has made the commitment to invest US$ 100 million in Siderperú over the next five years. The investment plan includes the modernization of the production process technology and environmental protection, perfectly aligned with the Gerdau investment policy. THE GERDAU GROUP
 
 
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