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| • | The Gerdau Group has been operating in Argentina since 1997, when it acquired the SIPSA rolling mill in the San Luis province. In 1998 it entered an association with the Sipar Aceros rolling mill, located in the Santa Fé province. Currently, Gerdau holds 38% of Sipar's capital stock. |
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| • | In April 2002, Gerdau restructured its operations in Argentina, so that SIPSA is now a wholly-owned subsidiary of Sipar. This new structure will allow the two companies to work more closely, maximizing their business opportunities, boosting results, and minimizing the impact of the fluctuations of the Argentinean peso against other currencies. |
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Gerdau SIPSA
Villa Mercedes - province of San Luis
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