CVRD Announces To Sell Their Shares In Nova Era Silicon To JFE Steel

摘要

CVRD (Companhia Vale do Rio Doce) of Brazil announced on the 8th of February (local time) that the company sells its 49 percent shares in Nova Era Silicon (NES) to JFE Steel of Japan for 14 million US dollars. According to this announcement, NES produced and sold 25,261 tons of ferro-silicon in January - September of 2005, having amounted to 68 million Reais, and its EBITDA reached 4 million Reais. As of the 30th September of 2006, NES net debt is anticipated to amount to 22 million Reais. CVRD said that the company has a long-term partnership with JFE Steel, involving commercial transactions and joint investments, and it will continue to furnish with iron ore and logistic services to NES to JFE Steel.