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MarketScreener Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Usinas Siderurgicas de Minas Gerais - Usiminas    USIM5   BRUSIMACNPA6

USINAS SIDERURGICAS DE MINAS GERAIS - US

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Usinas Siderurgicas de Minas Gerais Usiminas : Execution of an amendment to the Amended and Restated ... Tolling Service Agreement

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05/16/2019 | 05:23pm EDT

Usiminas Belo Horizonte Rua Prof. José Vieira de Mendonça, 3011 31310-260Belo Horizonte MG T 55 31 3499-8000F 55 31 3499-8899

(Free Translation: For reference only - Original in Portuguese)

www.usiminas.com

USINAS SIDERÚRGICAS DE MINAS GERAIS S.A. - USIMINAS

CNPJ/MF 60.894.730/0001-05

NIRE 313.000.1360-0

Publicly-Held Company

NOTICE TO THE MARKET

Usinas Siderúrgicas de Minas Gerais S.A. - USIMINAS ("Usiminas" or "Company") hereby informs that concluded, on the date hereof, the execution by and among Unigal Ltda. ("Unigal")1, Usiminas and Nippon Steel Corporation (formerly known as Nippon Steel & Sumitomo Metal Corporation), of an amendment to the Amended and Restated Tolling Service Agreement ("Tolling Service Agreement"), executed on December 2, 2008, which sets forth the compensation (tolling fee) due to Unigal by the process of Hot-DipGalvanized (HDG) of the coils sold by Usiminas.

Due to the referred amendment, Unigal will no longer be paid by the tolling fee based on a formula that takes into consideration a proportion of the price of the HDG coils sold by the Company to its customers and will start to receive a fixed amount per tons dispatched/invoiced to Usiminas, which will be annually adjusted according to the parameters set forth in the amendment.

The Tolling Service Agreement provides that the calculation form of payment due to Unigal might be reviewed by the parties every five (5) years or due to any extraordinary event in which the current economic rationale for the determination of the abovementioned payment is significantly changed.

Belo Horizonte, May 16th, 2019.

Alberto Ono

Vice-President of Finances and Investor Relations Officer

1Unigal is a sociedade limitada organized and existing under the laws of Brazil since 1999 to develop HDG processes for Usiminas products, in which the Company is a shareholder of 70% (seventy percent) of the corporate capital and

Nippon Steel Corporation (formerly known as Nippon Steel & Sumitomo Metal Corporation), part of the controlling Classificação da informação: Pública

group of the Company, owner of the remaining 30% of Unigal's corporate capital.

Disclaimer

USIMINAS - Usinas Siderúrgicas de Minas Gerais SA published this content on 16 May 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 16 May 2019 21:22:07 UTC

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Financials (BRL)
Sales 2019 15 110 M
EBIT 2019 1 338 M
Net income 2019 607 M
Debt 2019 4 136 M
Yield 2019 3,02%
P/E ratio 2019 17,0x
P/E ratio 2020 11,2x
EV / Sales2019 1,02x
EV / Sales2020 0,94x
Capitalization 11 296 M
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Number of Analysts 17
Average target price 10,11  BRL
Last Close Price 8,13  BRL
Spread / Highest target 59,9%
Spread / Average Target 24,3%
Spread / Lowest Target -1,60%
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NameTitle
Sérgio Leite de Andrade Chief Executive Officer
Ruy Roberto Hirschheimer Chairman
Alberto Akikazu Ono Vice President-Finance & Investor Relations
Kohei Kimura Vice President-Technology & Quality
Rita Rebelo Horta de Assis Fonseca Director
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