Friday, February 24, 2012

Usiminas' board approves changes designed to improve management focus - Brasil

Brazilian steelmaker Usiminas' (Bovespa: USIM5) new management structure will allow the company to better organize and direct its management focus, a company press official told BNamericas.
The new structure will contribute to a continuous increase in efficiency and competitiveness, the official said.

Usiminas' board recently approved the new executive structure, involving a CEO and six VPS.
Argentine Marcelo Chara, from Luxembourg-based steel group Ternium's (NYSE: TX) subsidiary Ternium Siderar, was appointed VP of industry, and Sergio Andrade, the previous business and steel VP is now commercial VP.

ndrade will expand Usiminas' markets, regain market share and increase exports. The executive will also be responsible for the company's service and distribution center (Soluções Usiminas).
Ronald Seckelmann remained as finance and investor relations VP.
Usiminas' pension fund (CEU) president, Erwin Romel de Souza, will take over as quality and technology VP.

The company also created two VP positions. Italian Paolo Basseti, who was the director of Ternium's Brazilian subsidiary - will manage the iron ore business (Mineração Usiminas), capital goods (Usiminas Mecânica) and auto parts (Automotiva Usiminas).
Japanese executive Nobuhiro Yamamoto will lead the corporate planning division. The company also appointed Vanderlei Schiller as VP of HR and organizational development.

In early January, Usiminas' board appointed Argentine Julián Eguren as CEO. Eguren - who replaced Wilson Brumer - was previously in charge of Ternium's North American operations and CEO of the company's Mexican subsidiary.

Following share purchase agreements in November, Usiminas' main controllers are now Japanese group Nippon Steel and Ternium.

Minas Gerais state-based Usiminas is the largest fully integrated flat steel manufacturer in Latin America, with crude steel capacity of 9.5Mt/y. Usiminas also has iron ore mines, steel distribution subsidiaries and operates downstream facilities in Brazil.