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TheStreet Open House

Eternit - Notice To The Market

SAO PAULO, Aug. 29, 2013 /PRNewswire/ -- Eternit, (BM&FBOVESPA: ETER3, OTC: ETNTY) founded 73 years ago, market leader in the Brazilian roofing segment, with a significant presence in the bathroom chinaware and metal bathroom fittings segments and a manufacturer of components for construction systems, hereby informs the market that it was served with a summons yesterday afternoon, in a public-interest civil lawsuit filed by the Public Labour Ministry under lawsuit  No. 0002106-72-2013.5.02.0009, which is currently before the 9th District Labour Court of Sao Paulo.

In contrast to that reported by a number of articles that have appeared in the press, in acquainting itself with the court process, the Company is able to identify that the injunction decision does not impose any cost burden on the health plan for all its former employees, which had been estimated by some at between 8000 and 10,000 people. Notwithstanding that the Company disagrees with its merits and that there is a need for a detailed examination of this very complex and voluminous court case, the decision is very clear in that it imposes a requirement for providing health assistance for "all the former employees from the Osasco industrial plant (...) referring to pages 76/83", with respect to "damage to health associated with occupational exposure to asbestos" provided, (i) that they are not already included under a health plan, the cost of which is borne by the Company; and (ii) that the potential beneficiaries confirm their interest in receiving medical assistance.

Also, because it has been possible to carry out preliminary verification of the case, the report covers 297 people, of which it has been possible to verify that a significant percentage has, over a period of time, already received medical assistance - the cost of which has been borne by Eternit.

The Company believes that it is important to also make it clear that five of the six requests for interlocutory relief previously drawn up by the Public Labour Ministry have been dismissed by Her Honour the Labour Judge and will be duly analysed during the course of the court case.

With respect to the institutional role of the MPT and the renewal of its commitment to continue to enforce compliance with laws and legal rulings, the Company believes that there is no basis for this court case, and hereby announces that it will be carrying out a vigourous defence of its rights at the appropriate time and in the appropriate manner.

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