Votorantim to float cement business
11 April 2013
Brazilian conglomerate Votorantim has applied to launch an initial public offering (IPO) of shares in its cement business, Votorantim Cimentos. It is seeking to list the shares on the Bolsa de Valores de São Paulo – BM&FBovespa, São Paulo’s stock exchange.
Votorantim is Brazil’s largest cement producer, with a production capacity of 24.4 million tonnes throughout Latin America last year. Since its acquisition of a stake in Cimpor, it has increased its global footprint, and has cement production capacity of 16.3 million tonnes outside the region.
The group is also active in the metals, steel, pulp & paper, agricultural and financial sectors. However, cement is its largest division, accounting for some 41% of its BRL 24.8 billion (US$ 12.5 billion) total revenues last year.
The cement division had sales of BRL 9.8 billion (US$ 4.95 billion) last year, a +9% improvement on 2011, and achieved earnings before interest, tax, depreciation and amortisation (EBITDA) of BRL 3.2 billion (US$ 1.62 billion). This accounted for 60% of Votorantim’s operating profit last year.
The company has not made any statement about what proportion of Votorantim Cimentos’ shares it will sell via the IPO or the timing of the floatation.
STAY CONNECTED




Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.
CONNECT WITH THE TEAM



