Operations in Venezuela represent 1% of Brazilian steelmaker Gerdau's (NYSE: GGD) installed capacity, Brazil's Agência Estado reported.
Porto Alegre-based Gerdau, the largest long products steelmaker in the Americas,
controls Siderúrgica Zuliana (Sizuca) in Venezuela.
Gerdau, which has installed capacity of over 20Mt, acquired Sizuca in 2007. According to the report, Gerdau has not commented on Venezuelan President Hugo Chávez's announcement of a currency devaluation late last week nor on its effects on the company's operations in the country.