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Gerdau SA (GGBR4.SA)

GGBR4.SA on Sao Paulo Stock Exchange

11.84BRL
14 Dec 2017
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R$ 13.75
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Latest Key Developments (Source: Significant Developments)

Brazilian steelmaker Gerdau hopes reduce leverage by end of year
Wednesday, 10 Aug 2016 

: Brazilian steelmaker Gerdau SA said it is seeing some signs of a recovery in Brazilian steel demand . Gerdau said hopes to keep reducing leverage in dollar terms until end of year . Gerdau said its mills in Brazil reached a utilization rate of 75 percent capacity in Q2, compared to 65 percent in Q1 Further company coverage: (Reporting by Alberto Alerigi) ((Stephen.Eisenhammer@thomsonreuters.com;)).  Full Article

Gerdau is notified of class action complaint in USA
Monday, 13 Jun 2016 

Gerdau SA :Announced on Friday that it had received at one of its subsidiaries based in the United States of America documents related to the class action complaint promoted by Donald P. Boland and Mary A. Boland.  Full Article

Gerdau SA HQ says tax fraud claims false - AMMMKT
Monday, 29 Feb 2016 

Gerdau SA:Gerdau SA has never given authorization for its name to be used in any allegedly unlawful tax negotiations, the company said in a Feb. 25 notice to the market. - AMMMKT.Some of Porto Alegre-based Gerdau’s Brazilian offices were recently raided by the Brazilian Federal Police, who questioned Gerdau chief executive officer André Gerdau Johannpeter on Feb. 25 ( amm.com, Feb. 25).While Gerdau has ongoing dealings with Brazil’s Administrative Council of Tax appeals (Carf), the company has “always used” external firms to obtain technical tax advice in these proceedings, Gerdau said, and it is cooperating with the investigation and with public authorities.The investigation looks into whether Carf rulings were inappropriately influenced to allegedly benefit certain companies in tax disputes, according to the Brazilian Federal Police.About 1.5 billion Brazilian reals ($375.7 million) in possible tax evasion is at stake in this sixth phase of the so-called “Operation Zelotes,” according to the public Feb. 25 police statement, which did not name Gerdau explicitly.The steelmaker has always “set strict ethical standards for its dealings with public agencies,” the company reiterated in its notice, signed by Gerdau executive vice president and investor relations director Harley Lorentz Scardoelli.  Full Article

Brazil steelmaker Gerdau holds 2017 investment target

SAO PAULO, Nov 8 Brazilian steelmaker Gerdau SA still aims to invest around 1.3 billion reais ($400 million) this year, Chief Executive André Gerdau Johannpeter said on Wednesday, suggesting a surge in fourth-quarter capital spending.