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Gerdau Ameristeel history
Gerdau Ameristeel company history timeline
Johann Heinrich Kasper Gerdau, a native of Hamburg, Germany, immigrated to Brazil in 1869, and originally established himself as a trader, and then a merchant, founding a general store in Cachoeira do Sul.
Around 1900, Gerdau, who had by then adopted the Brazilian first name Joao, moved to Porto Alegre.
1907: Son Hugo Gerdau takes over as head of nail factory.
1933: Company adds second nail production factory in Passo Fundo.
1933: Business expands with 2nd nail factory in Rio Grande.
1946: Gerdau's son-in-law, Curt Johannpeter, assumes leadership of company and begins expansion into steelmaking.
1947: Gerdau nail business listed on Porto Alegre stock exchange.
1948: Company acquires first steel works in Riograndense.
1957: Gerdau expands Riograndense with second mill in Sapucaia do Sul.
The company's growing influence in the domestic market, particularly with the construction of a new and modern nail production plant in Passo Fundo in 1961, forced Gerdau's suppliers to meet company-imposed standards of quality.
1961: Continuous casting process is adopted at Sapucala do Sul.
1962: Nail production expanded with new factory at Passo Fundo.
1963: Gerdau Foundation set up: help in housing, education, health.
Gerdau took Siderúrgica Riograndense public in 1966, although the group retained majority control over its growing steel operation.
In 1967, the company acquired Sao Judas Tadeu Wire Factory, located in Sao Paulo, expanding to its own nail production and adding wire production facilities as well.
1969: Gerdau acquires Açonorte steel works.
1971: Company builds Cosigua steel mill in joint venture with Germany's August Thyssen Hüette; acquires Comercial Gerdau distribution business; acquires Guaira steel mill.
In another diversification move, Gerdau purchased Indústria de Arames Sao Judas Tadeu S.A., also in Sao Paulo, in 1971.
1971: Role of Comercial Gerdau was sale flat and long steel products.
1979: Company acquires full control of Cosigua, the largest long steel works in Latin America.
1980: Internationalisation via investment in Laisa Works in Uruguay.
1981: Gerdau completes its first international acquisition, that of the Laisa steel mill in Uruguay.
1981: Cearense Works located in state of Ceara; Araucaria works located in state of Parana.
1988: Company acquires Barao do Cocais steel mill.
1989: Company moves into Canada with acquisition of Courtice Steel in Ontario; acquires Usiba, in Bahia.
1992: Company acquires Indac and Aza in Chile; acquires Brazilian specialty steels producer Aços Finos Piratini.
1992: Start of steel production in Chile - Aza Steel Works.
Gerdau's acquisition drive moved to Divinópolis in 1994, where it bought German-controlled Korf GmbH and its steelworks Cia.
In 1995, the company began a restructuring process in order to simplify its organizational structure.
By 1997, Gerdau had completed the reorganization, merging its businesses into a single company, Gerdau S.A., listed on the Brazil stock exchange.
1997: Company completes restructuring of operations under single entity, Gerdau S.A.; acquires minority stake in Açominos.
1999: Gerdau is listed on the New York Stock Exchange; acquires 75 percent of AmeriSteel in Florida; opens new steel mill in Chile.
At the end of 2002, Gerdau found its next target, Toronto's Co-Steel, which merged into AmeriSteel in October of that year.
Gerdau posted R 7.5 billion ($3.2 billion) in revenues in 2002.
2002: Company boosts stake in Açominos to more than 85 percent.
In 2003, Gerdau announced a plan to spend $60 million in order to integrate and improve its expanded North American operation.
On its creation in 2003, Gerdau Acominas became responsible for the company's steelmaking in Brazil.
Gerdau Ameristeel Corporation was created through the 2003 merger of the North American steel operations of Gerdau and Canada's Co-Steel.
With a capacity of 1.1 million tons, the new plant was scheduled to begin operations as early as 2004.
2004: Expansion in Colombia - buys Diaco & Siderurgia del Pacifico.
2005: Purchase of speciality steel production assets in Spain.
2005 acquisition by Gerdau of certain specialty steel assets in Spain was an important step for the company in getting entry into EU steel markets.
2006: Acquisition of Fargo Iron & Metal Co, USA (scrap processing).
2010: Acquires TAMCO - a large rebar mill in the Western United States
Cycle Systems processed nearly 170,000 tonnes of materials in 2011.
2012: Plan announced to build new Mexican structural shapes plant.
2013: Temporarily idles melt shop at steel mill in Cambridge Ontario.
2013: Acquisition of Cycle Systems, a metals recycling firm in Roanoke.
2014: Starts expansion of Minas Gerais iron ore production to 24mt.
2015: Lays off 200 workers at Pindamonhangaba steel mill.
2016: Investigation of CEO & others into alleged tax evasion scandal.
2017: In talks over potential sale of Mexican and Indian steel assets.
2017: Talks said to be progressing between Gerdau and investors about the potential purchase of Gerdau mills in Mexico and India.
2018: Sells remaining equity stake in Gerdau Steel India Ltd.
2018: Gerdau assets in India included a special steel industrial unit located in Tadipatri with an annual installed capacity of 250000 tonnes of crude steel and 300,000 tonnes of rolled steel.
2020: Announces plan to idle Minnesota EAF and rolling mill.
2020: Launches new division 'Gerdau Next' to focus on new business development.
2021: Announces $500m capacity expansion projects at Ouro Branco.
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