It is reportedly that giant steelmaker of long product Gerdau announced this week that they acquired the remaining stake of its joint venture partner Kalyani Steels at its first plant in India's Andhra region. The plant has an installed capacity of 3 million tons of special steels to provide the automotive sector. Gerdau formed joint venture with Kalyani Steels in 2007 to acquire SJK Steel Plant with equal partnership of 45% of the joint venture. Gerdau then has been increasing its equity in the joint venture through making capital investments and now holds about 99.5% stake in the joint venture. The new plant will rename from Kalyani Gerdau to Gerdau.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=63594&division=A9
