Gerdau launches wind-turbine factory in São PauloValor International
Steelmaker Gerdau announced Tuesday at its Pindamonhangaba plant in São Paulo a joint venture called Gerdau Summit, with Japanese companies Sumitomo Corporation and Japan Steel Works (JSW). The factory will produce nearly all parts necessary to assemble wind farms, demanding an investment of R$280 million until 2020. Gerdau will hold 59% of the new company, followed by 39% for Sumitomo and 2% for JSW. Production has already started with parts for the sugar-and-ethanol and mining sectors. Guilherme Gerdau Johannpeter, vice president of specialty steels, says the goal is to use the financial and market capacity of Sumitomo, along with JSW's technological know-how and Gerdau inputs.