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Gerdau to Divest Premier Thermal Solutions to Z Capital
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Brazilian steel producer Gerdau S.A. (GGB - Free Report) recently announced plans to divest its business unit − Premier Thermal Solutions, L.L.C. to Z Capital Partners, L.L.C., the private equity management arm of Z Capital Group, L.L.C. However, the financial terms of the transaction have been kept under wraps.
In the last three months, American Depository Receipts (ADR) of the company yielded 30.65% return outperforming the 12.07% gain witnessed by the Zacks categorized Steel Producers industry.
As revealed, Premier Thermal Solutions, L.L.C. comprise of Atmosphere Annealing L.L.C. and NitroSteel L.L.C. While Atmosphere Annealing L.L.C. provides metal heat treatment and related services mainly to the automotive, light and heavy truck, agriculture and energy sectors, NitroSteel L.L.C. provides nitro-carburized bars and tubes.
The parties involved anticipate the transaction to close within the next 30 days.
We believe such dispositions are in sync with Gerdau’s inorganic ways of strengthening its core and profitable businesses. In first-half 2016, the company had divested its Spain-based special steel producer to Clerbil SL.
Angang Steel Company Limited’s earnings estimates for 2017 have been revised upward over the last 60 days.
Aperam’s bottom-line expectations for 2017 and 2018 have improved over the last 60 days.
Ternium S.A.’s earnings estimates for 2017 and 2018 have improved over the past 60 days. Its average earnings surprise is a positive 16.43% for the last four quarters.
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Gerdau to Divest Premier Thermal Solutions to Z Capital
Brazilian steel producer Gerdau S.A. (GGB - Free Report) recently announced plans to divest its business unit − Premier Thermal Solutions, L.L.C. to Z Capital Partners, L.L.C., the private equity management arm of Z Capital Group, L.L.C. However, the financial terms of the transaction have been kept under wraps.
In the last three months, American Depository Receipts (ADR) of the company yielded 30.65% return outperforming the 12.07% gain witnessed by the Zacks categorized Steel Producers industry.
As revealed, Premier Thermal Solutions, L.L.C. comprise of Atmosphere Annealing L.L.C. and NitroSteel L.L.C. While Atmosphere Annealing L.L.C. provides metal heat treatment and related services mainly to the automotive, light and heavy truck, agriculture and energy sectors, NitroSteel L.L.C. provides nitro-carburized bars and tubes.
The parties involved anticipate the transaction to close within the next 30 days.
We believe such dispositions are in sync with Gerdau’s inorganic ways of strengthening its core and profitable businesses. In first-half 2016, the company had divested its Spain-based special steel producer to Clerbil SL.
Gerdau S.A. Price and Consensus
Gerdau S.A. Price and Consensus | Gerdau S.A. Quote
Zacks Rank & Stocks to Consider
With a market capitalization of approximately $7.1 billion, Gerdau currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the industry include Angang Steel Company Limited , Aperam (APEMY - Free Report) and Ternium S.A. (TX - Free Report) . All the three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Angang Steel Company Limited’s earnings estimates for 2017 have been revised upward over the last 60 days.
Aperam’s bottom-line expectations for 2017 and 2018 have improved over the last 60 days.
Ternium S.A.’s earnings estimates for 2017 and 2018 have improved over the past 60 days. Its average earnings surprise is a positive 16.43% for the last four quarters.
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>