VALE : S.A. : Vale to sell manganese ferroalloy operations in Europe
07/10/2012| 05:35pm US/Eastern
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Rio de Janeiro, July 10, 2012 - Vale S.A. (Vale) informs that it has signed a share purchase agreement to sell its manganese ferroalloys operations in Europe to subsidiaries of Glencore International Plc., a company listed on the London and Hong Kong Stock Exchanges, for US$ 160 million in cash, subject to the fulfillment of certain precedent conditions.
The manganese ferroalloys operations in Europe consist of: (a) 100% of Vale Manganèse France SAS, located in Dunkerque, France; and (b) 100% of Vale Manganese Norway AS, located in Mo I Rana, Norway.
The sale of the manganese ferroalloys operations in Europe is part of our continuous efforts to optimize the asset portfolio. Vale's growth and sustainable value creation strategy encompasses a multilane road, in which active portfolio asset management is a very important tool to optimize capital allocation and focus management attention.
For further information, please contact:
+55-21-3814-4540
Roberto Castello Branco: roberto.castello.branco@vale.com
Viktor Moszkowicz: viktor.moszkowicz@vale.com
Carla Albano Miller: carla.albano@vale.com
Andrea Gutman: andrea.gutman@vale.com:
mailto:andrea.gutman@vale.com
Christian Perlingiere: christian.perlingiere@vale.com
Marcio Loures Penna: marcio.penna@vale.com
Rafael Rondinelli: rafael.rondinelli@vale.com
Samantha Pons: samantha.pons@vale.com
This press release may include statements that present Vale's expectations about future events or results. All statements, when based upon expectations about the future and not on historical facts, involve various risks and uncertainties. Vale cannot guarantee that such statements will prove correct. These risks and uncertainties include factors related to the following: (a) the countries where we operate, especially Brazil and Canada; (b) the global economy; (c) the capital markets; (d) the mining and metals prices and their dependence on global industrial production, which is cyclical by nature; and (e) global competition in the markets in which Vale operates. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult the reports Vale files with the U.S. Securities and Exchange Commission (SEC), the Brazilian Comissão de Valores Mobiliários (CVM), the French Autorité des Marchés Financiers (AMF), and The Stock Exchange of Hong Kong Limited, and in particular the factors discussed under "Forward-Looking Statements" and "Risk Factors" in Vale's annual report on Form 20-F.
Vale to sell manganese ferroalloy operations in Europe:
http://hugin.info/144918/R/1625770/520070.pdf
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The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Vale S.A. via Thomson Reuters ONE
HUG#1625770
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