Brazilian steel supplier Gerdau is considering investing in China to supply the automotive industry, according to Autodata.
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The project is currently at an early stage, but group president Jorge Gerdau Johannpeter has said that he feels the company must follow the industry east, and the numbers are very attractive.
Johannpeter also told Autodata about on-going discussions to consolidate the Brazilian steel industry. He said that this is a long-term hypothesis, hindered by the equity structure of each of the companies involved.
Gerdau is currently investing US$1.5bn in its Gerdau Açominas plant in Ouro Branco, Minas Gerais, to increase flat steel production capacity by 40% to 4.5 million tones a year. The additional capacity is targeted at export markets.
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