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____COMPANHIA SIDERÚRGICA NACIONAL
Publicly-Held Company
Corporate Taxpayer’s ID (CNPJ/MF): 33.042.730/0001-04
Company Registry (NIRE): 35-3.0039609.0
MATERIAL FACT
Companhia Siderúrgica Nacional (“CSN” or “Company”) hereby announces to its shareholders and the market in general projections adjustments, as follow:
(i) | Iron Ore Production Projection Update in 2020. The Company changed the way it presents the production of iron ore, which from the first quarter of 2020 onwards considers production plus purchase of third parties, which expects to reach around 33 to 36 million tons of iron ore production in the period. |
| |
(ii) | The Company expects CAPEX spending in 2020 from R$1.8 billion to R$1.1 billion. |
CSN points out that the information disclosed in this document represents an estimate and involves market factors beyond CSN’s control. Therefore, it does not constitute a promise of performance by the Company and/or its Management and may be subject to change.
São Paulo, May 14, 2020.
Marcelo Cunha Ribeiro
Chief Financial and Investor Relations Officer
| COMPANHIA SIDERÚRGICA NACIONAL | |
| By: | /S/ Benjamin Steinbruch |
Benjamin Steinbruch Chief Executive Officer | |
| By: | /S/ Marcelo Cunha Ribeiro |
Marcelo Cunha Ribeiro Chief Financial and Investor Relations 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.
