Concrete changes. (Out of the Box).Brazilian conglomerate conglomerate, in business conglomerate, corporation whose asset growth, often very rapid, comes largely through the acquisition of, or merger with, other firms whose products are largely unrelated to each other or to that of the parent company. Grupo Votorantim is taking on a new business venture aimed at improving its lucrative cement operations via exports. Through its CRB CRB See: Commodity Research Bureau. Operacoes Portuarias unit, the company invested approximately US$18 million to lease a coke terminal at the port of Imbituba in the Brazilian state of Santa Catarina Santa Catarina (sän`tə kətərē`nə), state (1996 pop. 4,865,090), 37,060 sq mi (95,985 sq km), S Brazil. The capital is Florianópolis. for 25 years. Activity at the once-prominent coal dock began to decline in the early 1990s when coal subsidies were eliminated. Since then, the port of Imbituba has been seeking to diversify diversify To acquire a variety of assets that do not tend to change in value at the same time. To diversify a securities portfolio is to purchase different types of securities in different companies in unrelated industries. its products. Votorantim will continue to import coke to be burned at its cement plants and also plans to use the terminal for the export of cement. Cement sales at home and abroad account for 40% of Votorantim's annual revenue of $2.6 billion in 2001. Company officials announced plans to begin exporting cement to Africa within the next three years and to invest another $3 million in new machinery to improve the terminal's efficiency. |
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