Gerdau gets majority stake in AP plant

Special steel maker Gerdau which set up plant in Ananthpur district in association with Kalyani Group on Monday said it acquired majority stake in the facility and renamed it from Kalyani Gerdau to Gerdau. In 2007, Gerdau entered into a joint venture agreement

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with Kalyani group company Kalyani Steels Limited to acquire SJK Steel Plant Ltd with an equal partnership of 45 per cent each. Post acquisition of Kalyani’s shares, Gerdau now owns majority stake in the plant which is capable of producing 3 lakh tonnes of special steel a year. “This is a new and very important chapter in Gerdau’s history. The start of the production of special steel in India represents our expansion to an important country”, said André B. Gerdau Johannpeter, Gerdau’s CEO.

-Hans India

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