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 and McInnis to combine Canadian operations cemnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cemnet.com Daily Mail and Mail on Sunday newspapers.