Gerdau S.A. announced that Gerdau Group has completed the acquisition of the MacSteel business of Quanex Corporation. On Nov. 19, 2007, Gerdau announced it had reached an agreement to acquire MacSteel, which operates three mini-mills in Jackson and Monroe, Mich., and Fort Smith, Ark. MacSteel, which has an installed annual capacity of 1.2 million metric tons of crude steel and 1.1 million metric tons of rolled products, also operates six downstream operations in Michigan (two), Indiana (two), Ohio and Wisconsin.
As part of the deal, Gerdau also acquired Atmosphere Annealing, which was purchased by Quanex in December 2006. Atmosphere Annealing is a metal-treating company that specializes in high-volume ferrous heat-treating services, primarily for automotive powertrain applications.
Gerdau Completes Acquisition of MacSteel
May 9, 2008