From the Newsroom*
São Paulo – Mining company Vale do Rio Doce has sold its 50% share of Gulf Industrial Investment Company (GIIC), a palletising company in Bahrain. The value of the transaction is US$ 418 million.
The Brazilian mining company informs that it has left the business due to different views from those of Gulf Investment Corporation, which had the other half of the capital, regarding management of the business.
GIIC produced four million tonnes of pellets in 2005, representing 7.1% of the total pellet production of Vale do Rio Doce and its joint ventures, which reached 56.4 million tonnes.
*Translated by Mark Ament
