Brazil’s Gerdau Buys into Guatemalan Steelmaker

Brazilian iron processing giant Gerdau has acquired a 30% stake in Guatemala’s Corporacion Centroamericana del Acero (CCA). In addition to the stake, whose value was not disclosed, Gerdau plans to invest $180m in CCA. A company spokeswoman says the deal was financed with cash on hand. CCA has production and distribution facilities in Guatemala, Honduras, El Salvador and Belize, among other countries.