Type Private Number of employees 98,600 Founder José Ermírio de Moraes Net income 101.5 million USD (2013) | Industry Conglomerate Website www.votorantim.com.br Revenue 11.2 billion USD (2013) | |
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Key people Raul Calfat, (Chairman)
João Miranda, (CEO) Products Energy, siderurgy, steel, finance, pulp and paper, cement, agribusiness, aluminum, cellulose Founded 1918, Votorantim, São Paulo, Brazil Headquarters São Paulo, São Paulo, Brazil Subsidiaries Votorantim Cimentos, Banco Votorantim Parent organization HEJOASSU Administração S.A. | ||
Votorantim Group is one of the largest industrial conglomerates in Latin America, operating in various sectors such as finance, energy, siderurgy, steel, pulp and paper among others. The group is represented by different holdings administering the brands of each sector, they are:
Votorantim is a family-controlled company. It was founded in 1919 by José Ermírio de Moraes, an engineer from Pernambuco. Its model of corporate governance assures the Ermírio Morais family strategic controlling positions in the Executive Board, the Brazilian businessman Antônio Ermírio de Moraes was the representative of the family in company, and it has non-family professionals at the forefront of the Business Units. The company is proud to have been recognized by the IMD Business School and Lombard Odier Darier Hentsch Bank as the world’s best family company in 2005.
The Votorantim Group is the only closed-capital Brazilian company rated by the three main rating agencies in the world: Standard & Poors, Fitch Ratings and Moody's.
In February 2010, the Votorantim Group purchased through its subsidiary Votorantim Cimentos 21.2% of Portuguese cement company Cimpor, of which 17.3% was purchased from French cement company Lafarge and 3.9% from Portuguese Cinveste. Cimpor began to be played by the Brazilian siderurgy company CSN and the conglomerate Camargo Corrêa, that offered a hostile bid to hold 100% of the shares, but shareholds of Cimpor of rejected the offer to sell 100% of the company and thus the Votorantim Group was able to buy a stake in the Portuguese company. But on February 10 from the Camargo Corrêa impressed and bought 28.6% of Cimpor. In 2012 the group exchange their shares in Cimpor with Camargo Corrêa Cimpor for some assets in Asia, Africa and South America.