Votorantim

Votorantim is reinvesting around one-third of the proceeds from the sale of the 13.5% stake in steelmaker Usiminas (US$1340m) in the group's cement business. The funds could contribute towards the building of four new cement works, to be completed by the end of next year. Votorantim should then have 35 steel plants with combined capacity of 42Mta, according to Votorantim Industiral CEO Raul Calfat.