Brazilian steelmaker Gerdau finalized the acquisition of German metals service center Kloeckner's operations in Parana, Brazil, although the deal's value remains undisclosed. Historically focused on long steel production, Gerdau expanded its presence in flat steel assets. Recently, the company launched its expanded hot-rolling mill, increasing its hot-rolled coil (HRC) capacity by 30% to 1.1 million tons per year.

Before completing the acquisition, Gerdau sought approval from Brazil's antitrust authority, Cade. Kloeckner, which entered the Brazilian market in 2011 after acquiring a majority stake in Frefer Metal Plus, announced last October its decision to exit Brazil, refocusing its investments on Europe and North America.