Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No ___X____
PRESS RELEASE
CSN BLAST FURNACE 3
After 24 hours of the accident in Usina Presidente Vargas (Presidente Vargas Steel Mill), COMPANHIA SIDERÚRGICA NACIONAL informs that the damage was concentrated in the dust collecting system. The other equipments, namely the Blast Furnace, stoves, charging system and casting house, are fully preserved.
CSN also informs that it has an insurance policy in the amount of one hundred million dollars (US$100 million) for equipment and seven hundred fifty million dollars (US$750 million) forprofit loss. The management believes that these amounts give the Company comfortable room to face any losses resulting from the accident.
The Company will continue to produce regularly, from the Rolling Mill onwards, through the use of 240 thousand tonnes of slabs on inventory and the production of Blast Furnace 2.
The Company is employing all its efforts to resume its regular operations as soon as possible.
Rio de Janeiro, January 23, 2006
Companhia Siderúrgica Nacional
|
COMPANHIA SIDERÚRGICA NACIONAL
| ||
| By: |
/S/ Benjamin Steinbruch
| |
|
Benjamin Steinbruch
Chief Executive Officer and
Acting Chief Financial Officer | ||
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.