33 | 2011 Annual Report - Camargo Corrêa S.A.
Camargo Corrêa Group’s cement business is managed by InterCement Participações S.A., a holding company created in December 2010. The organization’s new structure was consolidated in the first half of 2011 to support continuous growth while also ensuring focus and excellence in existing operations.
With alignment of business areas and standardized procedures, the holding company is formed by InterCement Brasil, by the Argentine cement producer Loma Negra, and strategic shareholding interest held at other companies in the industry. The new corporate identity was modernized with the launch of InterCement brand, reflecting the international expansion and the capacity to find a balance of people and cultures. Since 2010, the Group holds about 33% of the stock of Cimpor, a company headquartered in Portugal with operations in 12 countries, especially in the emerging markets.
In March 2012, as a subsequent event, a takeover bid was announced for the entire stock of Cimpor. With the intent of providing the company with a stable shareholding structure and a strong and efficient strategy of growth, InterCement reinforces its long term commitment to development of Brazil and Portugal, in addition to other countries where Cimpor has operations, especially the African continent.