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An announcement from Gerdau SA ( (GGB) ) is now available.
Gerdau S.A. announced on January 21, 2025, that its subsidiaries have agreed to acquire all shares of Rio do Sangue S.A. and Paranatinga Energia S.A., which own small hydroelectric power plants in Mato Grosso, Brazil, for approximately R$ 440 million. The acquisition aligns with Gerdau’s strategy to enhance competitiveness by increasing self-production of renewable energy, contributing to its decarbonization efforts and supplying approximately 8% of its operations’ energy needs in Brazil.
More about Gerdau SA
Gerdau S.A. is a leading company in the steel industry, primarily engaged in producing long steel and special steel for construction, industrial, and agricultural markets. It focuses on sustainability and innovation to enhance competitiveness in its operations.
YTD Price Performance: 1.74%
Average Trading Volume: 10,540,963
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $5.93B
See more insights into GGB stock on TipRanks’ Stock Analysis page.
