Kalyani Steels has offloaded its stake into its plant at Tadipatri, Anantapur district of Andhra Pradesh to Brazilian company Gerdau.

Gerdau, a leading producer of long steel in the American subcontinent, holds 99.5 per cent stake in the plant while the remaining five per cent is the share holding of FIs and the previous owner of the unit. Also, unit's name has been changed from Kalyani Gerdau to Gerdau. In 2007, Gerdau entered into a JV with Karnataka-based Kalyani Steels to acquire SJK Steel Plant with an equal partnership of 45 per cent holding of both the compainies. The remaining 10 per cent stake had been held by the previous owner and financial institutions. 

The plant has an installed capacity of 300,000 tonne of special steels, mainly focused on the automotive market. Recently, the plant started operations of its blast furnace, melt shop, sinter plant, power plant and rolling mill.