Votorantim goes abroad

Votorantim goes abroad
Published: 08 June 2005

According to the chairman of the Brazilian industrial company Votorantim, Antonio Erminio de Moraes, the expansion of the group abroad is totally necessary and the acquisition of cement assets in the US and Canada was pushed by the stagnant scenario in Brazil. Votorantim owns a 6% share in the US cement market. However the company does not intend to invest in metal assets overseas (aluminum, zinc, nickel and steel). The aluminum division CBA, celebrating 50 years of operations, is expanding capacity to 400,000 m tons per year and may reach 470,000 m tons per year by 2007 and 600,000 m tons by 2010. Investments will surpass US$1bil between 2000 and 2007 including the construction of a hydroelectric plant since the company aims to generate at least 60% of the electric power consumption of its own. CBA made a profit of R$716mil in 2004.