Brazil-based steelmaker Gerdau SA announced its full-year results on Thursday. Gerdau's shipments totaled 19.2 million tons during 2011--a 10 percent increase compared to 2010. This increase can be attributed to the development of the industry and the energy segment in the North American business operations, as well as the civil construction segment in the Latin America and Brazil business operations. Consolidated net sales totaled BR$2.1 billion (US$1.2 billion) during 2011. Crude steel production was up 10 percent in 2011 to 19.6 million tons, while rolled steel production was up 11 percent to 16.4 million tons.
Along with announcing its 2011 results, Gerdau announced plans to place emphasis on its raw materials businesses in order to help reduce costs. According to a conference call from CEO Andre Gerdau Johannpeter, the company is currently looking for a business partner to help develop its iron ore mines in Brazil's Minas Gerais state and will also be investing in a coal export port in Columbia--which has been slated to open this year.