Gerdau Buys Venezuela Producer Zisuca

Brazilian steel-maker Gerdau has agreed to pay $92.5m for Venezuelan steel producer Siderurgica Zuliana the company said in a note to the Brazilian regulator, CVM, Monday. The company has followed an aggressive strategy of acquisitions in recent years adding steel plants in the US, Mexico and Central America. This is Gerdau’s first investment in Venezuela, which has enjoyed economic growth of more than 10% in the past two years, the steelmaker points out.