Brazilian steelmaker Gerdau SA has announced the launch of a new branch, dedicated to producing equipment used in wind farms. The project will be a joint venture between Gerdau and Japanese steelmakers Sumitomo Corp and Japan Steel Works Ltd.
The companies will make an initial investment of close to $68 million for purchasing the necessary equipment. The new company will be owned at least 50% by Gerdau at all times, the company revealed.
The sale is part of a 2015 initiative seeking to improve the company’s competitiveness. The new factory will be located on Gerdau’s property outside Sao Paulo, with production expected to begin in 2017, pending the approval of Brazilian and Japanese competition authorities and regulators.
Full content: See News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Justice Department Moves to End NCAA Transfer Rule
May 30, 2024 by
CPI
Kenya’s Competition Authority Proposes Tougher Regulations on Big Tech
May 30, 2024 by
CPI
KKR Secures EU Antitrust Approval for $24 Billion Acquisition of Telecom Italia’s Fixed-Line Network
May 30, 2024 by
CPI
European Court Sides with Tech Giants in Italian Regulatory Dispute
May 30, 2024 by
CPI
US Steel and Nippon Steel Secure International Approvals for $14.9B Merger
May 30, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI