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February 25, 2008 |
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GERDAU SA: Quanex to Vote on Merger with Firm Quanex Corp. reported that it will hold a special meeting of stockholders on March 31, 2008, to approve and adopt the agreement and plan of its merger with a subsidiary of Gerdau S.A. Stockholders of record as of the close of business on Feb. 29, 2008, will be entitled to vote at the special meeting. Quanex will issue a definitive proxy statement regarding the proposed merger to stockholders after the record date. Completion of the merger is subject to the adoption of the merger agreement by Quanex's stockholders and the satisfaction of the other closing conditions set forth in the merger agreement. About Quanex Corp. Quanex Corp., formerly Michigan Seamless Tube Company, is engaged in the production of engineered carbon and alloy steel bars, heat treated bars, aluminum flat-rolled products, flexible insulating glass spacer systems, extruded profiles, and precision-formed metal and wood products. The two markets served by the Company include vehicular products and building products. The segments served by the Company include Vehicular Products, Engineered Building Products and Aluminum Sheet Building Products. Quanex has 27 manufacturing facilities in 12 states in the United States. About Gerdau Headquartered in Porto Alegre, Brazil, Gerdau SA -- http://www.gerdau.com.br/ -- produces and distributes crude steel and related long rolled products, drawn products, and long specialty products. In addition to Brazil, Gerdau operates in Argentina, Canada, Chile, Colombia, Uruguay, India and the United States. * * * As reported in the Troubled Company Reporter-Latin America on Nov. 26, 2007, Moody's Investors Service affirmed Gerdau S.A.'s Ba1 corporate family rating and stable outlook. |
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