Votorantim Cimentos and Caisse de dépôt et placement du Québec close transaction to merge in North America

Print this page

Canada/US: Brazil-based Votorantim Cimentos and Caisse de dépôt et placement du Québec (CDPQ) have completed the transaction to merge their cement operations in North America. After having obtained regulatory approval from authorities in Brazil, Canada and the US, St Marys Cement (Canada), a wholly owned subsidiary of Votorantim Cimentos can now commence with the integration process with McInnis Cement. 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% and CDPQ will indirectly hold 17% of the shares.

The combined entity will comprise operations in Bowmanville and St Marys, in Ontario, Canada and in Detroit and Charlevoix in Michigan, Dixon in Illinois and Badger in Wisconsin in the US, along with a distribution network concentrated in the Great Lakes region - plus the Port-Daniel–Gascons plant and its distribution operations, including terminals located in Quebec, Ontario, New Brunswick, Nova Scotia and the Northeastern region of the US.

Register for the Global Cement Weekly email newsletter

Global Cement Weekly is Global Cement’s weekly email newsletter. Keep up to date with cement industry news, analysis, diary dates and news of people in the sector.

Register >

URL: https://www.globalcement.com/news/item/12364-votorantim-cimentos-and-caisse-de-de-po-t-et-placement-du-que-bec-close-transaction-to-merge-in-north-america

© 2024 Pro Global Media Ltd. All rights reserved.