Carlo Panunzi Quotations

We are seeing heated demand for long products generated by the civil construction sector. This year should be the fourth-consecutive year we will see record consumption.

We are concerned about the fact that this value creation could be a risk within a larger group as it is proposed today. Simply because of the value of the assets that are lying on the other side and in the competitors' hands.

Anyhow, it is not a very important business and mainly active in Europe.

In Brazil, the last four years have showed virtually no growth at all. Our expectations are for growth of between 5% and 7% compared with 2005, with that growth closer to 7%.