Smith Gambrell Reps Gerdau In $165M Steel Mill Deal

Law360, New York (September 15, 2010, 3:43 PM EDT) -- Brazilian steelmaker Gerdau SA's U.S. subsidiary on Wednesday announced a deal to buy a California steel mill from Ameron International Corp., Mitsui & Co. (U.S.A.) Inc. and Tokyo Steel Manufacturing Co. Ltd. for $165 million.

Gerdau Ameristeel US Inc. will pay Ameron $82.5 million for its 50 percent stake in Tamco, a California-based mini-mill, and it will also pay $82.5 million to Mitsui and Tokyo Steel for their 50 percent stake, Ameron said in a statement.

The recession and a weak construction market in the West...
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