Companhia Siderurgica Nacional (SID) Q2 2012 Earnings Call August 15, 2012 11:00 am ET Executives Luis Fernando Barbosa Martinez – Commercial Officer David Moise Salama – Investor Relations Officer Daniel dos Santos – Mining Director Analysts Ivano Westin – Credit Suisse (Brasil) SA CTVM Thiago Lofiego – Merrill Lynch SA CVTM Marcos Assumpção – Itaú Corretora de Valores SA PresentationOperator
Good morning ladies and gentlemen. At this time we would like to welcome everyone to CSN’s Second Quarter 2012 Earnings Conference Call. Today, we have with us the Company's executive officer. We would like to inform you that this event is being recorded and all participants will be in listen-only mode during the Company's presentation. After the company's remarks are over there will be a question-and-answer session, at that time further instructions will be given. (Operator Instructions) We have a simultaneous webcast that maybe accessed through CSN's Investor Relations website at www.csn.com.br/ir. The slide presentation maybe downloaded from this website. Please feel free to plug to the slides during the conference call. There will be a replay service for this call on the website. We would like to inform you that due to the number of participants the Company will answer only up to two questions per participant, with no right to reply and therefore we kindly ask that all the questions are made at once as soon as the lines are opened by the operator. Before proceeding, let me make the forward-looking statements have been made under the Safe Harbor of the Securities Litigation Reform Act of 1996. Forward-looking statements are based on the beliefs and assumptions of CSN’s management and on information currently available to the Company. They involve risks, uncertainties and assumptions because they relate to future events, and therefore, depend on circumstances that may or may not occur in the future. Investors should understand that general economic conditions, industry conditions, and other operating factors could also affect the future results of CSN and could cause results to differ materially from those expressed in such forward-looking statements.