Skip to main content

Votorantim Cimentos and CDPQ to combine cement operations in North America

Published by , Deputy Editor
World Cement,

Votorantim Cimentos, the seventh largest cement producer in the world, and Caisse de dépôt et placement du Québec (CDPQ), a long-term institutional investor, have announced that they have completed the transaction to combine cement operations in North America. After having obtained regulatory approval from authorities in Brazil, Canada and the United States, St. Marys Cement Inc. (Canada), a wholly owned subsidiary of Votorantim Cimentos can now commence with the integration process with McInnis Cement Inc.

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 business combination is expected to significantly strengthen the strategic positioning of the combined operations through increased cement production capacity, operational efficiencies and an enhanced distribution network.

The combined entity will comprise operations in Bowmanville and St. Marys, in Ontario, Canada; and in Detroit and Charlevoix, Michigan; Dixon, Illinois; and Badger, Wisconsin in the United States, along with an extensive 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 United States.

Moelis & Company LLC acted as exclusive financial advisor for Votorantim Cimentos. HSBC served as lead financial advisor to CDPQ on the transaction, in collaboration with National Bank Financial and BMO Capital Markets.

Read the article online at:

You might also like

Dalmia Bharat releases Q1 FY25 results

Dalmia Bharat Limited a leading cement manufacturing company, reported its consolidated financial results for the quarter ended June 30, 2024.


Embed article link: (copy the HTML code below):


This article has been tagged under the following:

US cement news