盖尔道集团
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巴西盖尔道集团（Gerdau S.A.）官方网站网址：http://www.gerdau.com.br/
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巴西盖尔道集团(Gerdau S.A.，BM&F Bovespa: GGBR3, GGBR4 / NYSE: GGB / TSX: GNA / Latibex: XGGB)是巴西主要的长材生产企业，世界排名第12位。集团下属5大业务部门，包括：北荚分部(含美国和加拿大)、巴西长材分部、巴西Acominas Ouro Branco分部、特殊钢分部(含巴西和西班牙)以及南美分部(不含巴西)。
盖尔道集团主要产品为粗钢、长材、拉拔材、扁平材和特殊钢。产品大纲丰富，区域市场地位强大及盈利不断增长是盖尔道的优势所在。亚洲市场的发展、战略收购以及新兴国家电力需求的增长为盖尔道今后的发展提供了机遇。但是债务负担过重和业务季节性波动是盖尔道的劣势所在。燃料成本增加和钢铁行业内的兼并重组将影响盖尔道未来的发展。
所有工厂：盖尔道公司：圣克鲁斯厂，内维斯厂，巴朗-迪科凯斯厂，累西腓厂，马拉卡纳乌厂，西蒙伊斯—菲尔霍厂，孔塔任厂，科蒂亚厂，圣若泽-坎普斯厂，伊加拉苏厂，新利马厂，昆比卡厂，里奥格兰得黑色冶金公司：南萨普卡亚厂和阿莱格里港厂，圣莱奥渡尔多厂；佩恩斯黑色冶金公司：迪维诺渡利斯厂，孔塔任厂，圣若泽多斯坎波斯厂；拉伊萨黑色冶金公司；蒙得维的亚厂；阿扎黑色冶金公司；圣地亚哥厂；盖尔道MRM钢公司。
- 炼钢生铁。
- 碳钢—小方坯；线材；钢筋；圆钢；方钢；扁钢；光亮棒材(冷加工)；小型角钢(等边)，小型 T型钢；小型槽钢；光亮钢丝(硬拉)；退火黑钢丝；镀锌刺钢丝；混凝土钢筋用钢丝；镀钢钢丝；钉和类钳；栅栏；氧乙炔焊条；MIG-MAG焊条；紧固件 (螺母和螺栓)；混凝土钢筋用焊接钢丝网；钢丝栅栏；钢丝绳和钢绞线；钢缆绳。
- 碳钢—钢筋；圆钢；方钢；扁钢；小型材；异型型材；轻轨；轻型轨粱。
Gerdau S.A. is the largest producer of long steel in the Americas, with steel mills in Brazil, Argentina, Canada, Chile, Colombia, Dominican Republic, Guatemala, Mexico, Peru, the United States, Uruguay and Venezuela. It also holds 40% stake in the Spanish company Sidenor and has a joint venture with Kalyani Group in India. Currently, Gerdau has an installed capacity of 26 million metric tons of steel per year.
The Gerdau Group is one of the agents in the consolidation process of the global steel business. Gerdau is the world’s 14th largest steelmaker and the largest producer of long steel in the Americas. It has 337 industrial and commercial units in the 14 countries where it operates and it has more than 46 thousand employees. Its products, sold on five continents, serve the civil construction, industrial and agricultural sectors. Shares of Gerdau Group companies are traded on the stock exchanges of São Paulo, New York, Toronto and Madrid.
- 1901: Johann Heinrich Kasper (Joao) Gerdau acquires nail factory Pontas de Paris in Porto Alegre, Brazil.
- 1907: Son Hugo Gerdau takes over as head of nail factory.
- 1933: Company adds second nail production factory in Passo Fundo.
- 1946: Gerdau's son-in-law, Curt Johannpeter, assumes leadership of company and begins expansion into steelmaking.
- 1947: Company goes public as Fabrica de Pregos Hugo Gerdau.
- 1948: Company acquires first steel works in Riograndense.
- 1957: Gerdau expands Riograndense with second mill in Sapucaia do Sul.
- 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.
- 1979: Company acquires full control of Cosigua, the largest long steel works in Latin America.
- 1981: Gerdau completes its first international acquisition, that of the Laisa steel mill in Uruguay.
- 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.
- 1994: Company acquires Pains steel mill, which is renamed Gerdau Divinópolis.
- 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.
- 2001: Gerdau begins construction of new steel plant in Aracariguama, scheduled to begin production as early as 2004.
- 2002: Company boosts stake in Açominos to more than 85 percent.
A fast-rising star on the international steel market, Gerdau S.A. has long held the title of the leading producer of long steel products in Brazil and Latin America. The company is also among the top three Brazilian producers of crude steel, and also produces a range of specialty steels, principally for the automotive industry. Overall, Gerdau ranks among the top 25 global steel producers. Gerdau also manufactures a variety of finished products, including nails--the company's original product, a segment in which Gerdau is the world leader--wire, wire mesh, and wire fencing. Through subsidiary Comercial Gerdau, the company is also Brazil's leading distributor of flat steel products. Gerdau has long specialized in the operation of minimills, which use electric arc furnaces to produce steel from scrap and other metals. The company also operates a small number of traditional blast furnaces, which produce steel from raw iron ore, especially through its controlling stake in Açominos, acquired in 2002. Much of Gerdau's growth lies in a steady series of domestic and international acquisitions which had enabled it to build an international network of manufacturing facilities throughout South America and in Canada and the United States as well. In that latter market, the company controls 75 percent of AmeriSteel, based in Florida. That 1999 acquisition helped boost Gerdau's total production past seven million tons per year. Gerdau posted R 7.5 billion ($3.2 billion) in revenues in 2002. Listed on the Brazil and New York stock exchanges, the company remains firmly controlled by the founding Gerdau-Johannpeter family, who hold more than 70 percent of Gerdau's voting rights through the family holding company, Metalúrgica Gerdau.
Nailing the Brazilian Market: Early 20th Century
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. There, Gerdau entered a new business, buying up the nail factory Pontas de Paris in 1901. Gerdau's business interests also included furniture manufacture, through Gerdau Móveis.
Gerdau's son Hugo took over the nail operation in 1907. Educated in Europe, the younger Gerdau continued to make trips both to Europe and to the United States, returning to Brazil with new steelmaking techniques and production processes. In this way, Gerdau vastly improved the quality of nails available in Brazil, and before long the company became the country's leading nail producer, adding a second production facility in Passo Fundo in 1933. By the end of the 20th century, Pontas de Paris company had become the largest nail manufacturer in the world.
The Gerdau family continued to explore varied business interests. Hugo Gerdau, for example, was a founding partner in Companhia Geral de Industrias, which manufactured stoves under the Geral brand name. Gerdau also participated in the creation of what later became the Federaçao das Indústrias do Estado do Rio Grande do Sul (FIERGS, or the Federation of Industries of Rio Grande do Sul). Yet it was through Hugo's daughter's marriage that the company became one of Brazil's industrial giants.
Helda Gerdau married German-born Curt Johannpeter, who first came to Brazil as a branch inspector for Deutsche Bank's German Transatlantic Bank. Johannpeter joined the Gerdau family in the 1930s, then took over the leadership of the nail company in 1946. The company went public the following year, adopting the name Fábrica de Pregos Hugo Gerdau.
Faced with the shortage of raw materials in the aftermath of World War II, Johannpeter led Gerdau into steel production itself, thereby ensuring its nail operation's supply. In 1948, Gerdau bought Porto Alegre-based Siderúrgica Riograndense SA, which had been founded ten years earlier. By the late 1950s, steel production had grown into Gerdau's primary area of interest. In 1957, the company added a second mill, in Sapucaia do Sul. Four years later, the company added a continuous ingot casting unit, the first in Latin America, which enabled it to boost its production levels and the quality of its steel products.
A commitment to quality rapidly became a Gerdau hallmark, as the company set out to match European and North American quality standards. 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. Gerdau began adding computer technology in the mid-1960s, and in 1968 was one of the first in Brazil to incorporate computer-controlled production processes.
Domestic Steel Leader in the 1970s
Gerdau took Siderúrgica Riograndense public in 1966, although the group retained majority control over its growing steel operation. Gerdau then entered a period of domestic expansion and diversification. 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. In another diversification move, Gerdau purchased Indústria de Arames Sao Judas Tadeu S.A., also in Sao Paulo, in 1971. That company, which changed its name to Comercial Gerdau, became Brazil's largest distributor of long and flat steels, developing a national network of more than 60 branch offices.
Gerdau also stepped up its steel production at the end of the 1960s and into the 1970s. In 1969, the company acquired a steel producer in Recife, Siderúrgica Açonorte. Two years later, Gerdau formed a joint venture with August Thyssen Hüette, based in Germany, to build a new steel mill in Rio de Janeiro. That mill, called Cosiqua, developed into the largest long steel production facility in Latin America. Gerdau took full control of Cosiqua in 1979, then launched it as a public company in 1984.
In the meantime, Gerdau continued its Brazilian expansion, adding the Guaira mill, one of the first in the state of Paraná, in the south of the country, in 1971, then adding another steel producer, Comesa, in 1974. In the early 1980s, Gerdau built two new steel mills, Cearense, in Ceará, and Araucária, in Paraná.
Concurrent with the growth in the company's steel production was its diversification into related businesses. Such was the case with its participation in the creation of Seiva SA Florestas e Indústrias, and its acquisition of CIFSUL, which added a forestry component to the group in the early 1970s, ensuring its fuel supply. Gerdau had also pioneered the new "minimill" concept, utilizing electric arc furnaces rather than traditional blast furnaces. The minimills enabled steel companies to produce new steel products from scrap metals. The need for scrap in turn led Gerdau into that market, with the creation of Gerdau Metálicos in 1980. That company developed into the largest scrap collector, processor, and reseller in the Latin American market.
By the early 1980s, Gerdau had become Brazil's largest steel producer. Yet the company's nearly 50 percent market share left it little room for future expansion at home. At the same time, the company's focus on the domestic market left it highly exposed to fluctuations in the often volatile Brazilian market. The company, now under the leadership of Curt Johannpeter's four sons, Klaus, Germano, Jorge, and Frederico, decided to take the risk and expand onto the international market.
International Expansion in the 1990s
Although Gerdau's first purchase of a foreign company came in 1981, when it acquired Uruguay's Laisa steel mill, its true international growth started at the end of the 1980s, with the acquisition of Canada's Courtice Steel Inc. in 1989. Three years later, Gerdau added to its Latin American operations with the purchase of two Chilean steelmakers, Indac and Aza, which were consolidated into a single company, Gerdau Aza. In 1995, Gerdau returned to Canada, purchasing Manitoba Rolling Mills Inc., which was then renamed Gerdau MRM. Two years later, Gerdau entered Argentina, acquiring Sociedad Industrial Puntana SA, or SIPSA. The following year, Gerdau added a one-third stake in that country's Sipar Laminacion de Aceros as well.
Not all of Gerdau's growth occurred outside of Brazil during this period. Indeed, the company continued to expand its domestic operations throughout the early 1990s. Gerdau took advantage of the privatization drive of the Brazilian government, picking up a number of formerly state-controlled steel mills, including the Barao de Cacais mill in 1988, Usina Siderúrgica da Bahia S.A. in Usiba in 1989, and then Companhia Siderúrgica do Nordeste and Aços Finos Piratini S.A. in 1991. The last-named business, which focused on the specialty steels market, enabled Gerdau to add a range of high value-added products to its existing steel products lines.
Gerdau's acquisition drive moved to Divinópolis in 1994, where it bought German-controlled Korf GmbH and its steelworks Cia. Siderúrgica Pains S.A. That purchase subjected Gerdau to investigation by Brazil's mergers and monopolies body; Gerdau ultimately gained permission to proceed with the acquisition. Subsequently, Gerdau sold off the rest of the Korf operations and renamed the Pains mill Gerdau Divinópolis. Domestic expansion continued into the late 1990s with the purchase of a minority stake in semi-finished products group Açominos. Over the next several years, Gerdau increased its share of Açominos to nearly 37 percent in 1999, and finally to 87 percent in 2002, including more than 79 percent of voting rights.
By the mid-1990s, Gerdau had grown into an internationally operating group of more than 28 companies--including its own bank, launched in 1995 to provide financial services to its steel customers--and six publicly listed companies. 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. Gerdau S.A. nonetheless remained under the control of the Gerdau family, whose members held more than 70 percent of the voting rights through their Metalúrgica Gerdau holding company. In 1999, Gerdau placed its stock on the New York Stock Exchange as well.
Despite its increasingly international operations, Gerdau remained a small player in the global steel market, ranked at the very bottom of the world's top 50 steel companies. Foreign sales represented just 10 percent of the group's total. In 1999, however, Gerdau took a leap into the big leagues when it paid Japan's Kyoei Steel $262 million to take over 75 percent of Florida-based AmeriSteel. The deal boosted Gerdau's total production past seven million tons per year, and transformed it into the second largest producer of concrete reinforcing bars. The addition of AmeriSteel allowed Gerdau to climb to the world's top 25 steel companies; it also shifted the balance of the group's geographic sales, as international revenues now reached 36 percent of the group's total.
Gerdau immediately began investing in its new U.S. business, pouring more than $340 million to expand production at AmeriSteel's four minimills by some 25 percent. At the same time, Gerdau's holding of AmeriSteel increased to 85 percent.
Gerdau's early internationalization was credited with helping the company bypass Brazil's economic crisis in the late 1990s. By the early 2000s, as the country's economy revived, Gerdau's good health placed it in a strong position to increase its clout in the domestic market. The company continued to invest in its home market, installing new rolling equipment at its Aços Finos Piratini unit to double its specialty steel capacity. The company also earmarked some $400 million for the construction of a new rebar plant in Sao Paulo. With a capacity of 1.1 million tons, the new plant was scheduled to begin operations as early as 2004.
After increasing its stake in Açominos past 85 percent in 2002, Gerdau began looking for further acquisitions. Yet the company remained focused on the Americas, judging European steel production as too expensive a market to enter, and the fast-growing Asian steel market as too culturally different. At the end of 2002, Gerdau found its next target, Toronto's Co-Steel, which merged into AmeriSteel in October of that year. The new unit was then renamed AmeriSteel Whitby. In 2003, Gerdau announced a plan to spend $60 million in order to integrate and improve its expanded North American operation. After more than 100 years, Gerdau appeared to have nailed down its place in the global steel market.
Principal Subsidiaries: Aceros Cox S.A. (Chile); Açominas Gerais S.A. (79%); Armafer Serviços de Construçao Ltda.; Gerdau AmeriSteel Corporation (Canada; 74%); Gerdau USA Inc.; AmeriSteel Corp. (U.S.A.; 74 85%); AmeriSteel Bright Bar Inc. (U.S.A.; 74%); Gerdau AmeriSteel MRM Special Sections Inc. (Canada; 74%); Gerdau AmeriSteel Cambridge Inc. (Canada; 74%); Gerdau AmeriSteel Perth Amboy Inc. (U.S.A.; 74%); Gerdau AmeriSteel Sayreville Inc. (U.S.A.; 74%); Gerdau Aza S.A. (Chile); Gerdau Internacional Emprendimentos Ltda. (Brazil); Gerdau GTL Spain S.L. (Spain); Gerdau Laisa S.A. (Uruguay); Seiva S.A. - Florestas e Indústrias.
Principal Competitors: Eclipse Foundries Ltd.; Panzhihua Iron and Steel Co.; Ishikawajima-Harima Heavy Industries Company Ltd.; C Grossmann Eisen- u Stahlwerk AG; Benxi Iron and Steel Co.; Forjas de Santa Clara CA; Chongqing Special Steel Group Co.; Fiat S.p.A.; Xinyu Steel and Iron Plant General of Jiangxi; Krivorozhstal Krivoy Rog; Aceros Chile S.A.; Cargill Inc.; Ispat Karmet Steel Plant.