The investment includes land, inventory and fixed assets associated with Dales Recycling's operations in Tennessee, Kentucky and Missouri in the United States.

Brazilian steelmaker Gerdau, through Gerdau Ameristeel, its subsidiary in North America, has signed an agreement to acquire the assets of Dales Recycling Partnership, a company dedicated to the operation, processing and recycling of ferrous scrap, for US$ 60 million.

The investment includes land, inventory and fixed assets associated with Dales Recycling's operations in Tennessee, Kentucky and Missouri in the United States.

The aim of this acquisition is to increase Gerdau's capture of ferrous scrap through its own channels, supplying raw material to its operations at a competitive cost.

Closing of the transaction is subject to compliance with the customary conditions precedent for transactions of this nature.

Gerdau has clarified that this acquisition is aligned with its strategy of growth and competitiveness of operations, through assets with greater potential for generating long-term value and expanding its presence in more profitable markets for its business.