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Article: Brazil: Votorantim reports a record result.
- Article from:
- South American Business Information
- Article date:
- May 1, 2001
CopyrightCOPYRIGHT 2001 COMTEX News Network, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Brazil, Apr 27, 2001
Votorantim group is to invest R$1bil per year until 2005 or US$2.5bil within five years in paper and woodpulp, cement, aluminum, metals and energy areas. The initial expectations were of US$2bil investment in the period. The group registered record results boosted by the increasingly demand for commodities in the international market, the growth of the Brazilian economy and its own restructuring. Votorantim had a net profit of R$1.36bil against the R$484mil reported in 1999 and a profitability of 25% over its net worth. The group" consolidated net income was of R$6.2bil a growth of 24% if compared with 1999. Its controlled companies also ...