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Message from the Board |GRI 1.1|

2011 was marked by macroeconomic challenges faced by companies. The effects of the global financial crisis also reached political and social fields, causing deep changes even to consolidated and developed economies. Our generation faces a historic change in course: global expectations of growth are now projected to emerging countries, especially the Brics (Brazil, Russia, India, China and South Africa), not to developed countries.

The world is getting increasingly interdependent and while this offers opportunities it also brings risks. In the case of Brazil, the record-breaking inflow of foreign investments, the consolidation of the domestic market, major international events to take place, in addition to possibilities of the pre-salt exploration, demand creativity and determination from companies. It is necessary to face scarce skilled labor availability, the resulting reduced productivity, the increased costs of raw material and the chronic drop of internal savings of national economy.

In this context, organizations are constantly forced to reconsider their structures and processes. In line with its business and entrepreneur profile operating in the infrastructure value chain and management of desired brands, Camargo Corrêa Group reformed its portfolio and sold its shareholding interest in steelmaking (Usiminas), waste management (Cavo) and

Antonio Miguel Marques, Vitor Hallack, Carlos Pires Oliveira Dias, Luiz Roberto Ortiz Nascimento, and A.C. Reuter (from the left) are the members of the Board of Directors at Camargo Corrêa S.A.