Brazil: Gerdau expands with $60 million scrap recycling acquisition

• Gerdau Ameristeel, a leading Latin American minimill producing 12.4 mnt of steel annually, is acquiring US-based Dales Recycling for $60 million to enhance its ferrous scrap operations in North America.
• The deal encompasses assets in Tennessee, Kentucky, and Missouri, with the goal of securing a reliable supply of raw materials.
• Gerdau's North American subsidiary will manage the acquisition, pending standard closing conditions.