Gerdau, Metaldom complete merger in Dominican Republic
Brazilian long steel producer Gerdau, through subsidiary Industrias Nacionales (Inca), and steelmaker Metaldom, have completed their merger in the Dominican Republic.
The new company, called Gerdau Metaldom, will operate Inca and Metaldom's three plants in the Caribbean nation, as well as a distribution center in Costa Rica. Integration is expected to take one to two years, local daily Listín Diario reported.
The Gerdau Metaldom metallurgical complex in the Dominican Republic has annual capacity of 1Mt of rolled products, which are primarily exported.
According to the report, Gerdau Metaldom – the first Dominican multinational in the steel area – aims to meet the local construction sector's increasing steel demand, and export to Central America and the Caribbean. The new company will be managed by Gerdau.
Based in Porto Alegre, Gerdau is Latin America's largest steel producer and the biggest long steelmaker in the Americas. It has over 45,000 employees and capacity of around 25Mt/y.
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