Brazilian prosecutors ask Usiminas to remove board member

Monday, 16 July 2018 23:35:33 (GMT+3)   |   Sao Paulo
       

Brazilian public prosecutors in the state of Minas Gerais (MPT) filed a lawsuit to remove an Usiminas board member, MPT said on Monday.

Brazilian prosecutors argued board member Luiz Carlos de Miranda Faria, who currently represents employees at the local flats steelmaker, lacks an “unblemished reputation.” Prosecutors also said Faria reportedly signed a court deal preventing him from assuming a managing position at Usiminas. Edilio Ramos Veloso, who acts as substitute for Faria, was also mentioned in the lawsuit.

Prosecutors requested a court to force Usiminas to conduct a new election to appoint a representative for the steelmaker’s employees. Usiminas said on Monday the appointment of Faria was “legitimate” and involved Usiminas-related unions.

Usiminas denied claims Faria cannot join the steelmaker’s board, as suggested by the prosecutors.


Similar articles

Brazilian HDG export prices decline

17 Apr | Flats and Slab

Brazilian HRC export price trends stable

16 Apr | Flats and Slab

Brazil’s Usiminas to improve efficiency of coke plant No. 2 at Ipatinga

03 Apr | Steel News

Brazil’s Usiminas to cut carbon emissions by 15 percent by 2030

29 Mar | Steel News

Usiminas share price increases sharply in February

01 Mar | Steel News

Prices stable for Brazilian slab export deals

12 Feb | Flats and Slab

Usiminas posts a lower net profit for 2023

09 Feb | Steel News

Usiminas could idle another blast furnace to face imports from China

25 Jan | Steel News

Usiminas to restart its largest blast furnace

17 Jan | Steel News

Prices increase for Brazilian HDG exports

15 Dec | Flats and Slab