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Companhia Siderurgica Nacional (SID.N)

SID.N on New York Stock Exchange

29 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Brazil steelmaker CSN expects to cut costs, raise prices
Thursday, 12 May 2016 09:46am EDT 

: CSN cuts first-quarter cash cost for ore deliveries to China to $31.20 per wet metric tonne (WMT) from $45.40/WMT year earlier -official . Brazilian steelmaker CSN Expects it can cut capital investments below the 1.2 Bln reais expected for 2016 . Brazil steelmaker CSN expects to raise Brazil steel price 10 percent in June . Brazil steelmaker CEO Steinbruch says he expects further cost cuts for iron ore shipment transport costs . Brazil steelmaker CSN chief Steinbruch says he expects EBITDA to increase in coming quarters as cost cutting continues . CEO of Brazilian steelmaker CSN says he's a bit disappointed with first-quarter result, but debt-cutting efforts were hurt by a weaker Brazilian real .CSN says it will maintain its outlook for 5.5 million tonnes of steel sales in 2016, sees little problem passing on price increase.  Full Article

Companhia Siderurgica Nacional - Brazil's CSN fined $3.25 mln for environmental violations - Reuters
Friday, 12 Feb 2016 04:07pm EST 

Companhia Siderurgica Nacional:Brazilian steelmaker Cia Siderurgcia Nacional CSNA3.SA was fined 13 million reais ($3.25 million) for failing to meet the conditions of an environmental and safety accord, public prosecutors in Rio de Janeiro said on Friday - RTRS.The fine was levied by the first civil court of the State of Rio de Janeiro, the prosecutors said.The court unanimously declared that CSN, as the steelmaker is known, had failed to adopt measures included in a 2010 agreement with the Rio de Janeiro state environmental agency to reduce air, water and noise pollution as well as safety risks at CSN's Presidente Vargas Mill in Volta Redonda, Brazil.CSN had told the court that it could not find qualified contractors to carry out the required work.  Full Article

Companhia Siderurgica Nacional - Shutdown of Brazil's CSN steel furnace could cost 3,000 jobs-union - Reuters
Wednesday, 23 Dec 2015 09:47am EST 

Companhia Siderurgica Nacional:About 3,000 workers could lose their jobs when Brazilian steelmaker Cia Siderúrgica Nacional shuts a blast furnace at its Volta Redonda steel works in Rio de Janeiro state, the local union said on Wednesday. - RTRS.CSN CSNA3.SA said last week it was looking at ways to cut its steel production to adjust to weak demand. Brazil's economy is languishing in a deep recession and its once-booming auto and construction industries have contracted sharply - RTRS.The company said it expects to close its No. 2 blast furnace at the mill early next year. The mill, CSN's oldest, produces about 5 million tonnes of steel a year, or about 30 percent of its total output. The company also said it may close the furnace indefinitely - RTRS.Jovelino Jose Jusso, head of the metalworkers union representing employees at the plant, said the company has not yet announced the layoffs - RTRS.A spokesperson for CSN said the company was negotiating with the unions but did not yet know how many people will be laid off - RTRS.  Full Article

Companhia Siderurgica Nacional announces 9th debentures issue
Wednesday, 1 Jul 2015 07:38am EDT 

Companhia Siderurgica Nacional:Says it has approved the ninth issue of 10,000 simple debentures, in single series, unsecured, non convertible into shares, to be distributed in a public placement with restricted placement efforts with the nominal unit value of 10,000 Brazilian reais totaling 100 million reais.Maturity date on March 30, 2022.Funds raised through the debentures issue will be used for the early redemption of the second issue of commercial promissory notes.  Full Article

Companhia Siderurgica Nacional to incorporate its unit CSN Cimentos SA
Friday, 10 Apr 2015 07:52am EDT 

Companhia Siderurgica Nacional:Says that at the general meeting to be hold on April 28 it will propose the incorporation of its unit CSN Cimentos SA.Incorporation to occur on May 1.  Full Article

More From Around the Web

Brazil's CSN to miss earnings reporting deadline

SAO PAULO, March 27 Cia Siderúrgica Nacional SA, Brazil's No. 2 listed flat steelmaker, said on Monday that it would miss a regulatory deadline to file fourth-quarter results in the face of an internal reorganization plan.