The CEO of Vetorial, Mr. Gustavo Trindade Correa, released on Tuesday afternoon, 27, a public statement, in which he clarifies what changes and what does not change after the announcement of the new society with ALL and Triunfo Participacões.

Mr. Correa points out that, regardless of the project Vetria, the company will remain dedicated to the same core business: charcoal-fueled steel works.

“We are not replacing our business plans for a new one,” said the Chief Executive Officer.

Read the full statement:

PUBLIC STATEMENT

As widely reported by press organs in recent days, Vetorial has just created a new company along with ALL and Triunfo Participacões; a transaction that made us proud and full of expectations.

Through this statement we intend to clarify what changes, and especially what does not change at Vetorial in its relationship with its stakeholders.

First, despite all the disclosure, it is important to mention the reasons that led us to form the new society.

Vetorial used to have – henceforth owned by Vetria, the name of the new society – mining rights in Corumba, acquired in 2003. At that time, the acquisition and development of the deposit had the specific purpose of achieving self-sufficiency in iron ore.

The precursor that foresaw what is now a trend in the steel industry.

However, over time there were two important facts. Iron ore had unprecedented value in the global market and the reserves were much larger than it had been assumed at first.

Given the new reality, we decided to seek an additional economic purpose for the asset, to complement the already valuable and successful self-sufficiency planning. And that should measure up to the capacity of the mine.

Therefore, we joined two well-known domestic companies, which held together a logistics solution that would allow adequate shipping of ore at a level, proportional to the capacity of the mine, valuing the full potential of the assets. Thus Vetria was created. A company with integrated mining and logistics.

However, despite the size of the new project Vetria, we would like to clarify that Vetorial remains dedicated to the same core business, namely, charcoal-fueled steel works. We are not replacing our business plans for a new one.

Vetria is a beautiful project, which will be led by dedicated management and in no way will affect our commitment and objective of steelmakers, reforestation professionals and charcoal producers.

It is important to mention that, even with the sale of assets to the new company, we preserved the right to keep an amount of iron ore, sufficient for our consumption and expansions; among other very interesting synergies for Vetorial that Vetria will offer in the future, especially in the field of transport and logistics.

Therefore, we explain to our customers, suppliers, service providers, employees, government agencies, other institutions, and especially to society as a whole, that Vetorial heads straight in pursuit of its goals with the same seriousness, respect and dedication that have been guiding and directing the company since 1969.

Sincerely,

December 27, 2011.

Gustavo Trindade Correa
President/CEO – Vetorial

Source: Comunicação