Acesita shareholders OK dividend; new pres chosen

Shareholders of Brazilian specialty steelmaker Acesita have approved the company's proposed dividend payment, the company said in a statement to São Paulo's Bovespa stock exchange. Shareholders cleared payment of 131mn reais (US$52mn) in dividends, supplementary dividends and interest on capital based on the company's 2004 earnings. It is the first dividend payment by the company in seven years. Payment will be made May 27 to shareholders of record April 26, according to the filing. PERSONNEL CHANGES Acesita's board has selected Jean-Philippe Demaël to be the new company president, a company spokesperson told BNamericas. Demaël, who is 37-years old and French, previously served as an executive with Luxembourg-based steelmaker Arcelor, which holds a controlling stake in Acesita. Demaël replaces Luiz Aníbal de Lima Fernandes. At Arcelor, Demaël was in charge of the company's stainless steel products for the auto industry and steel tubes. He joined Arcelor from Spain's Usinor, where he was strategic director for the steelmaker's stainless steel unit. Aceralia, Arbed and Usinor merged in 2002 to create Arcelor. Shareholders also voted one new member to the company directors, Lucas Gianella. Ciro Gomes, Brazil's minister of national development, was re-elected to his post on the board. Brazil's public prosecutor called in March for Gomes to resign from the board, saying Gomes' role could result in conflicts of interest. Gomes was nominated to the board by the pension fund of state energy giant Petrobras (NYSE: PBR). Arcelor is the world's second largest steelmaker. In addition to its stake in Acesita, the company holds controlling stakes in long-steel maker Belgo-Mineira, steel slab maker CST and stainless steel firm Vega do Sul.