Companhia Siderurgica Nacional of Rio de Janeiro, the leading steel producer in Latin America, has named Moises Pinsky as chief financial officer and investor relations officer. Before this appointment Pinsky was chief marketing officer at the company. At the same time the company named Jose Marcos Treiger as investor relations manager, reporting to Pinsky.
This is a new position at CSN, the first time the company has had someone dedicated full-time to investor relations. ‘We want to expand our dialogue with international analysts, fund managers, investors and the financial media,’ explains Pinsky. He describes IR as a ‘vital area’ and talks of his and Treiger’s ‘sense of challenge and personal enthusiasm.’
Treiger joins from Aracruz Cellulose, where he developed extensive contacts with US equity analysts over a period of two and a half years. Aracruz was the first Brazilian company to have a Level III ADR program, listed on the New York Stock Exchange.That experience should prove useful at CSN, which is planning to establish its own Level II ADR shortly. ‘We intend to complete our reconciliation to US Gaap sometime during the first half of 1996,’ in anticipation of the ADR, says Treiger.
The company wants to increase its visibility, particularly among international investors, and within two weeks of joining CSN Pinsky, Treiger and financial planning manager Claudia Curoba were setting off for New York to start doing just that.
The trio made two presentations in the city on February 28: the first at the Bankers Trust Steel Conference held at the Waldorf Astoria in the morning; the second at the Hyatt Regency in the afternoon, where Prudential Securities was running a Metals and Mining Forum.
Some 5 per cent of CSN’s equity is currently held outside Brazil and the company is building a more structured IR function partly in order to increase this level. ‘We intend to make presentations in London as well,’ says Treiger, although nothing has yet been scheduled for Europe.
