CEMIG

Companhia Energética de Minas Gerais S.A.
Sociedade Anônima
Traded as B3: CMIG3, CMIG4
NYSE: CIG
BMAD: XCMIG
Ibovespa Component
Industry Electricity
Founded 1952
Headquarters Belo Horizonte, MG, Brazil
Key people
 Bernardo Afonso Salomão de Alvarenga, (CEO)
Products Electrical power
natural gas
Services Electricity distribution
Electricity transmission
telecommunications
Revenue Increase US$  6.5 billion (2017) [1]
Increase US$ 302.4 million (2017) [1]
Number of employees
 16,300
Subsidiaries Light S.A.
Taesa
Website www.cemig.com.br

CEMIG is a Brazilian power company headquartered in Belo Horizonte capital of the state of Minas Gerais. The company is one of the largest power generators and distributors in Brazil being responsible for 12% of the national distribution. The company os the fourth largest electricity company in Brazil by revenue after Eletrobras, Energisa and CPFL Energia.

CEMIG is present in 22 Brazilian States and in Chile. With around 50 power plants in operation, most of them hydroelectric, the company owns around 6,000 MW of generation capacity. Cemig also owns a cable television, internet and telecommunications business called Infovias which uses the company's transmission and distribution lines. Also, a business called Gasmig supplies natural gas in Minas Gerais. Just over half of Cemig's stock is owned by the state of Minas Gerais.

The company is responsible for serving about 18 million people in 774 municipalities of Minas Gerais and for the management of the largest network of electricity distribution in South America, with more than 400 thousand km of lines.

The stock is traded on BM&F Bovespa where it is part of the Ibovespa index. It is also traded on the New York Stock Exchange and Latibex an index for Latin companies in Madrid Stock Exchange.

The Headquarters building of Cemig, in Belo Horizonte.

The company is being included in the new Global Dow (Dow Jones index that has 150 companies meant to track worldwide stock performance).

The company owns 43% of TAESA, a Brazilian Electric Company.[2]

References

  1. 1 2 Alberto Alerigi Jr. "Lucro da Cemig em 2010 cresce 6%, para R$ 2,257 bi". Exame.
  2. ↑ "Taesa". taesa.com.br.
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