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Votorantim Cimentos ended the first quarter of 2021 with net profit of R$227 million, reversing the R$380 million loss posted in 1Q2020. The company’s global net revenue in the first quarter of the year was R$4 billion, an increase of 46% in comparison to the same period in 2020, as a result of an increase in sales volume in all regions where it operates, combined with the positive impact of the devaluation of the real against foreign currencies in its international operations. The company’s global cement sales totalled 7.6 million t in 1Q2021, a 20% growth compared to the 6.3 million t sold in the same period in 2020.
Votorantim Cimentos commences McInnis Cement integration 03 May 2021
Votorantim Cimentos, the seventh largest cement producer in the world, and Caisse de dépôt et placement du Québec (CDPQ), a long-term institutional investor, has announced that they have completed the transaction to combine cement operations in North America.
After having obtained regulatory approval from authorities in Brazil, Canada and the United States, St Marys Cement Inc (Canada), a wholly-owned subsidiary of Votorantim Cimentos can now commence with the integration process with McInnis Cement Inc.
As part of the transaction, the parties will combine their North American assets in a jointly-held entity. Votorantim Cimentos International, the international investments platform and wholly-owned subsidiary of Votorantim Cimentos, will hold 83 per cent and CDPQ will indirectly hold 17 per cent of the shares. The business combination is expected to significantly strengthen the strategic p
Votorantim Cimentos and CDPQ Close Transaction to Combine Cement Operations in North America
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St. Marys Cement Inc. and McInnis Cement to begin jointly manufacturing, distributing and selling cement in Canada and the United States
TORONTO and MONTREAL and SÃO PAULO, Brazil, April 30, 2021 /PRNewswire/ - Votorantim Cimentos, the seventh largest cement producer in the world, and Caisse de dépôt et placement du Québec (CDPQ), a long-term institutional investor, announced today that they have completed the transaction to combine cement operations in North America. After having obtained regulatory approval from authorities in Brazil, Canada and the United States, St. Marys Cement Inc. (Canada), a wholly owned subsidiary of Votorantim Cimentos can now commence with the integration process with McInnis Cement Inc.