Gerdau announces completion of sale of assets in the United States for Commercial Metals

Gerdau concluded on Monday (5) sale for Commercial Metals Company of four mills producing Rebar and steel cut and fold in the United States, according to the brazilian steel market release. In the document, the company adds that the $ $600 million deal, announced earlier this year included the plants in Jacksonville, Knoxville, Rancho Cucamonga and Sayreville, as well as all units of cut and fold the Gerdau in USA. In addition to the amount announced, the steel company CITES approximately $ $100 million estimated adjustments in working capital. "The cash received will be used for debt reduction," said Gerdau.