Gerdau, JFE Steel sign accord for heavy slab deal in Brazil
SAO PAULO Feb 4 (Reuters) - Gerdau SA, the largest steelmaker in the Americas, and JFE Steel Corp have agreed to produce heavy slabs in Brazil, a venture that will allow them to cater for clients in the region and reduce Brazilian imports of the product.
Under terms of the agreement, which was unveiled in a Thursday securities filing, JFE Steel will assist Gerdau in the production of heavy slabs from a plant in Ouro Branco, in the Brazilian state of Minas Gerais.
Production of the first generation of thickness gauge is expected by July, the filing added. (Reporting by Guillermo Parra-Bernal; Editing by Mark Potter)
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