United States
Securities and Exchange Commission
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant To Rule 13a-16 or 15d-16
of the
Securities Exchange Act of 1934
For the month of
October 2002
Valley of the Doce River Company
(Translation of Registrant's name into English)
Avenida Graca Aranha, No. 26
20005-900 Rio de Janeiro, RJ, Brazil
(Address of principal executive office)
(Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.)
(Check One) Form 20-F X Form 40-F
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(Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing information to the Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)
(Check One) Yes No X
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(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b). 82-___.)
This current report on Form 6-K is hereby incorporated by reference into
the Registration Statement on Form F-4 of Companhia Vale do Rio Doce and
Vale Overseas Limited, File No. 333-84696.
Companhia Vale do Rio Doce Logo Press Release
Conclusion of Florestas Rio Doce Assets Sale
Rio de Janeiro, October 02, 2002 - Companhia Vale do Rio Doce (CVRD), and its
wholly owned subsidiary, Florestas Rio Doce S.A. (FRDSA), signed on September
30, 2002 an agreement with Aracruz Celulose S.A. (Aracruz) and Bahia Sul
Celulose S.A. (Bahia Sul), for the purchase and sale of assets owned by FRDSA in
the Sao Mateus region of the Espirito Santo state in Brazil.
The amount of the transaction is R$ 191,403,756.40 (one hundred and ninety one
million, four hundred and three thousand, seven hundred fifty six reais and
forty cents), making effective the sale of FRDSA assets, which general terms and
conditions were defined in the letter of intent, signed on June 10, 2002. The
assets consist of approximately 40,000 hectares of land and eucalyptus forests
and the assignment to Aracruz and Bahia Sul of a preexisting wood sale contract
with third parties.
The sale of FRDSA assets concludes CVRD divestiture of pulp and paper businesses
as determined by its long term strategic plan. CVRD intends to utilize the
forestry assets of its subsidiary Celmar S.A. in projects linked to the mining
and metals business. Currently, these projects are being evaluated by CVRD.
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For further information, please contact:
Roberto Castello Branco: castello.branco@cvrd.com.br +55-21-3814-4540
Andreia Reis: andreia.reis@cvrd.com.br +55-21-3814-4643
Barbara Geluda: barbara.geluda@cvrd.com.br +55-21-3814-4557
Daniela Tinoco: daniela.tinoco@cvrd.com.br +55-21-3814-4946
Rafael Azevedo: rafael.azevedo@cvrd.com.br +55-21-3814-4700
This press release may contain statements that express management's expectations
about future events or results rather than historical facts. These
forward-looking statements involve risks and uncertainties that could cause
actual results to differ materially from those projected in forward-looking
statements, and CVRD cannot give assurance that such statements will prove
correct. These risks and uncertainties include factors: relating to the
Brazilian economy and securities markets, which exhibit volatility and can be
adversely affected by developments in other countries; relating to the iron ore
business and its dependence on the global steel industry, which is cyclical in
nature; and relating to the highly competitive industries in which CVRD
operates. For additional information on factors that could cause CVRD's actual
results to differ from expectations reflected in forward-looking statements,
please see CVRD's reports filed with the Brazilian Comissao de Valores
Mobiliarios and the U.S. Securities and Exchange Commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
COMPANHIA VALE DO RIO DOCE
(Registrant)
Date: October 3, 2002
By: /s/ Fabio de Oliveira Barbosa
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Fabio de Oliveira Barbosa
Chief Financial Officer