Brazilian steel maker Gerdau SA initially reached an agreement with U.S.-based steel company Quanex last November to buy its American rebar producer-MacSteel. The project has been finalized with purchase amount of US$146 million.

MacSteel owns three steel scrap facilities and six processing centers. It yields 1.3 million tons and 1.2 million tons of constructive steel and crude steel respectively. The total labors are counted for 1,600 persons.

With this purchase projects, Gerdau SA will become the global leading automotive steel long products suppliers as well as special steel products.