| Business Summary | | Companhia
Energetica
de
Minas
Geras
(Cemig)
is
one
of
Brazil's
electrical
energy
concessionaires.
The
Cemig
concession
extends
over
96%
of
the
Minas
Gerais
State
territory,
which
is
located
in
the
southeastern
region
of
Brazil.
The
area
covered
is
560,000
square
kilometers
and
is
equivalent
to
a
country
the
size
of
France.
Cemig
has
38
electricity
generation
plants
within
this
concession,
mostly
hydroelectric,
which
produce
energy
to
meet
the
demands
of
17
million
people
throughout
the
774
municipalities
within
its
concession
in
Minas
Gerais
State.
Cemig
operates
the
largest
electricity
distribution
network
in
Latin
America,
which
extends
over
300,000
kilometers.
As
one
of
Brazil's
main
integrated
companies,
Cemig
generates,
transmits
and
distributes
electrical
energy
to
the
second
largest
consumer
market
in
Brazil,
where
many
of
the
largest
Brazilian
iron
and
stell
industries,
mining,
automobile
and
metallurgical
companies
are
set
up. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Companhia
Energetica
de
Minas
Gerais
generates,
transmits
and
distributes
electrical
energy
to
the
second
largest
consumer
market
in
Brazil.
For
the
three
months
ended
3/31/01,
revenues
rose
15%
to
CR$1.23
billion.
Net
loss
totaled
CR$12.5
million,
vs.
an
income
of
CR$82.4
million.
Revenues
reflect
an
increased
electric
energy
tariff.
Loss
reflects
an
increase
in
personnel
salaries,
increased
cost
of
energy
purchased
for
resale
and
increased
maintenance
expenses. Recent Earnings Announcement For
the
3
months
ended
06/30/2001,
revenues
were
1,326,984;
after
tax
earnings
were
26,662. (Preliminary; reported in thousands of Real.) | More
from
Market Guide: Significant
Developments |
| Officers | |
| Position | Djalma Bastos de Morais | CEO,
Director of Technological and Environmental Devel. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|