The performance of the mining and metal areas of the Brazilian industrial group Votorantim surpassed the cement divisions for the first time and accounted for 27 per cent of the company’s global income or R$4.97bn in 2004, increasing by 15 per cent over 2003.
Meanwhile the cement division raised income by 25 per cent to R$4.6bn in the period.
Consolidated profit grew by 19.5% to R$4.13bn, 48% of which or R$1.99bn came from the metal area.
Votorantim invested R$7bn last year, most of which were directed at assets acquisitions (US cement plants, 50 per cent stake in Ripasa and the Peruvian mine of Cajamarquilla). The company has also acquired the services company TI Proceda from MCI.