Gerdau Steel India Private Limited Renamed To Arjas Steel Private Limited

In a statement the company said “as announced to the market on August 27, 2018, by Brazil headquartered Gerdau S.A, Gerdau S.A. had signed an agreement to sell its entire shareholding in its Spanish subsidiary Gerdau Hungria KFT Y CIA Sociedad Regular Colectiva which included 100% of all the operations and assets in India to Blue Coral Investments Holdings Private Limited and Mountain peak Investment Holdings Limited, owned and managed by ADV Partners and affiliates.”

ADV Partners is an Asia focused private equity firm with offices in Hong Kong, Singapore, Shanghai and Mumbai. The reason for the sale was to enable Gerdau to focus more on its core markets in North America and Latin America. The change of name of the company follows the official completion of the transaction on October 31, 2018.

ADV Partners together with the existing management, see a great future for growing the SBQ business in Andhra Pradesh and in India and are working on a growth roadmap that will position Arjas Steel, as a center of excellence in the manufacture of SBQ steel. The operations will continue to be run by the current management.