Aracruz Celulose S.A. selects J.P. Morgan as its new depositary bank.NEW YORK--(BUSINESS WIRE)--March 17, 1997--Aracruz Celulose S.A. has selected J.P. Morgan as the new depositary bank for its American Depositary Receipt American Depositary Receipt (ADR) Certificates issued by a US depository bank, representing foreign shares held by the bank, usually by a branch or correspondent in the country of issue. (ADR ADR - Astra Digital Radio ) program, effective today. The company has also changed its ADR ratio: Each ADR now represents 10 class B shares of Aracruz. Aracruz is the world's largest producer of hardwood kraft market pulp, which is used in the production of a wide range of paper products, including premium tissue, printing and writing papers, liquid packaging board, and specialty papers. Aracruz established the first Brazilian ADR offering on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. in 1992. It was also the first Brazilian company to issue ADRs. Aracruz' ADRs trade under the symbol ARA. J.P. Morgan manages ADR programs for the following clients in Brazil: Acesita, Aracruz Celulose S.A., Bombril, Centrais Eletricas Brasileiras S.A. (Eletrobras), Companhia Siderurgica de Tubarao, Companhia Vale do Rio Doce Summary Companhia Vale do Rio Doce (CVRD) is a global diversified mining company, the second largest mining company in the world, and the largest logistics operator in Brazil. (CVRD CVRD Companhia Vale do Rio Doce (Brazilian mining company) CVRD Cowichan Valley Regional District (Vacouver Island, British Columbia, Canada) CVRD Converter, Variable Resistance, to DC Voltage ), and Votorantim Celulose e Papel. J.P. Morgan created the ADR in 1927. A global banking firm, J.P. Morgan serves clients through an integrated range of advisory, financing, trading, investment, and related capabilities. CONTACT: ADR Contact: Nancy Ancowitz, 212/648-3403 or Press Contact: Joseph Evangelisti, 212/648-9589 |
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