São Paulo-based private conglomerate Votorantim, formerly known as Votorantim Industrial, is one of the largest business groups in Brazil, present in 23 countries with a diversified geographic and business portfolio in strategic sectors of the economy - cement, mining and metallurgy, steel, energy, pulp, orange juice and financial institutions.

Votorantim employs over 44,000 people worldwide, the majority of them working in Brazil. Together, the eight-investee companies - Votorantim CimentosVotorantim MetaisVotorantim SiderurgiaVotorantim Energia, Fibria, Citrosuco, CBA (Companhia Brasileira de Alumínio) and Banco Votorantim - are part of a business group that has more than 560 operational and administrative units on five continents.

Last year, the conglomerate posted a net loss of 1.25bn reais (US$393mn), compared with a 382mn-real profit in 2015. Net revenue was down 9% to 26.7bn reais, the company said.

Votorantim said the loss was mainly due to the temporary suspension of nickel operations and the classification of Brazilian long steel assets as available for sale, which resulted in an investment impairment of 1.8bn reais.

The conglomerate has about 15bn-reais in debt.


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