About MPX- History and Company Profile
History and Company Profile
History
Nowadays, MPX is a joint-stock Company, with indefinite term of duration, constituted in accordance to the Federative Republic of Brazil laws. The Company’s headquarters is located in the City of Rio de Janeiro, State of Rio de Janeiro, at Praia of the Flamengo, nº 66, 9º andar.
MPX began its activities in the electrical power sector with the development of a thermal electrical plant, Termoceará, in the state of Ceará, in 2001. Founded in 1980, the EBX Group began its operations in mineral trading and within two years commenced its own mining operations. In 1998, EBX then diversified its activities to include power and water resources projects. In partnership with an american company – MDU Resources Group – Termoceará was built in a record time of 10 months with an investment of US$ 150 million and a capacity of generating 220MW fueled by natural gas. With this enterprise the EBX Group has demonstrated its capacity of implementing projects in extremely competitive deadline and costs.
On December, 2007, MPX issued 1,903,743 common stocks at the amount of R$ 1,006.63 per share, which started to be negotiated at the Novo Mercado, a special corporate governance segment of Bovespa, on December 14th, 2007. On January 2008 the green shoe was exercised for subscription of additional 118,261 common stocks for the same price. The public offering was concluded on January 17th, 2008 and, taking into consideration the green shoe, the total of 2,022,004 stocks were made available to the market, resulting in a fund raising at the amount of R$ 2.0 billion.
Company Profile
MPX has four projects with secured PPAs, Pecém I & II TPPs ("Energia Pecém" and "MPX Pecém II"), Itaqui TPP ("MPX Itaqui") and TPP Serra do Navio, and a project portfolio that strategically places the company in search of the best growth opportunities in light of the Brazilian energy scenario.
However, the development of the projects described below, as well as any new projects, is subject to market conditions, always considering the maintenance of the company’s capital discipline. MPX reiterates its commitment to shareholders, to seek suitable returns given market conditions in effect.
MPX has mining rights of coal in Colombia and a mine in the South of Brazil. In addition, MPX has jointly with OGX 70% of participation in 7 exploration blocks with high potential of natural gas in Maranhão.