Gerdau Summit was until now a joint venture between Gerdau, Sumitomo Corporation and The Japan Steel Works (JSW) whose main task is to meet the needs of the forged and cast parts market.

Brazilian steelmaker Gerdau has concluded the transaction with Sumitomo Corporation and The Japan Steel Works to acquire 100% of the Gerdau Summit joint venture for a total amount of 32.6 million dollars (31.6 million euros).

Gerdau Summit was until now a joint venture between Gerdau, Sumitomo Corporation and The Japan Steel Works (JSW) whose main task is to meet the needs of the forged and cast parts market, in addition to expanding technological investments in rolling mills.

The company notified the market of this operation on Monday, once all the conditions precedent for this type of operation have been met, including the approval of the competition authorities.

In this way, Gerdau acquires the 39.53% held by Sumitomo Corporation in Gerdau Summit and the 1.74% held by The Japan Steel Works.

This transaction was announced by Gerdau on November 21, 2024 and, as planned at the time, was closed at the beginning of 2025.