Paranapanema SA


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Latest Developments

Paranapanema enters 30-day standstill agreement with creditors

Paranapanema SA <PMAM3.SA>:Said on Friday it had signed a standstill agreement with main financial creditors for the period of 30 days.

Paranapanema announces resignation of CFO

Paranapanema SA <PMAM3.SA>: Said on Monday its board of directors approved resignation of Luis Felipe Schiriak from chief financial and investor relatioons officer .The company's CEO Christophe Malik Akli to assume responsibilities of chief financial and investor relatioons officer until a new officer is elected.

Bonsucex reaches 6.8 pct stake in Paranapanema SA

Paranapanema SA:Says that its shareholder Bonsucex Holding SA, directly and indirectly, holds now 21,872,591 ordinary shares of the company, corresponding to 6.85 pct of Paranapanema's share capital.

Paranapanema SA appoints Helio Baptista Novaes as CFO

Paranapanema SA:Appoints Helio Baptista Novaes as chief financial officer (CFO).Effective as of July 15.

Paranapanema SA announces new share repurchase program

Paranapanema SA:Approves a new share repurchase program for acquisition of up to 12,000,000 ordinary shares, corresponding to 3.8 percent of the total of outstanding shares of the company.Repurchase period is of 365 days.

Paranapanema SA announces cast and roll repair schedule and mitigation plan

Paranapanema SA:Says that, after one month of the fire in Cast & Roll foundry line (seamless pipes), that after one month and a half, the situation is the following.Seamless pipes lamination process already recovered to 400 tons/month (25 pct of the capacity), using internal and external alternative foundries to prepare the raw bars.Repair schedule of the first line was concluded and it should be able to serve 100 pct of plant’s needs in the beginning of July.Total repair cost should not surpass 10 million Brazilian reais and insurance claim process was initiated normally with the company's insurer.The complete end of repairs (two operating foundry lines) is expected for Aug. 2015.

Paranapanema SA temporarily suspends seamless pipes production line due to fire

Paranapanema SA:Informed about a fire in the foundry of the Cast & Roll line (seamless pipes) located at Utinga plant (Santo Andre, Sao Paulo state).The fire was quickly controlled and left no injuries, however Cast & Roll production line was affected and its operation is temporarily suspended.The seamless pipes sales represented 6 percent of company's net revenue for FY 2014.

Paranapanema SA announces new credit line

Paranapanema SA:Says, on Aug. 28, its Board of Directors approved a new credit line of 100 million Brazilian reais from Caixa Economica Federal, shareholder of 17.23 pct stake of the company.

Paranapanema SA appoints chief financial officer

Paranapanema SA:Appoints on May 21 Thiago Alonso de Oliveira Chief Financial Officer.

Paranapanema SA Appoints Chief Executive Officer

Paranapanema SA announced on October 28, 2013 appointment of Mr. Christophe Malik Akli new Chief Executive Officer of the Company.

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