On January 8th, Gerdau Steel India Limited announced officially that it will be renamed to Arjas Steel Private Limited

The company denoted in a statement that on August 27th, 2018, Gerdau S.A. sold its entire shareholding in a Spanish subsidiary, including all Indian businesses and assets owned by ADV Partners and its subsidiaries. The reason for the sale was to allow Gerdau to focus more on core markets in North America and Latin America.

In addition, Sridhar Krishnamoorthy, Managing Director of Arjas Steel, referred that he expected to make Arjas Steel become the center of special steel production. With utilizing India's growing automotive market and automotive ecosystem to ensure a smooth transition for Arjas Steel, Arjas Steel signed a number of agreements with Gerdau Steel.