Votorantim gets into real estate development
After adjusting its business portfolio, which involved the sale of steel and cellulose businesses in Brazil and other smaller, non-strategic assets, Votorantim group created Altre, a real estate developer and creator of urban transformation projects.
The company will focus on both organic and inorganic growth, through mergers and acquisitions, Votorantim CEO João Schmidt. Partnerships with other companies for specific projects are not off the table.According to Sérgio Malacrida, Votorantim's Chief Financial and Investor Relations Officer, Altre already has a project of a housing development in Votorantim, São Paulo, the group's birthplace at the beginning of the 20th century.
Other communities are also planned for Sorocaba, São Paulo, and Paulista, Pernambuco, where the company owns large plots of land that housed its facilities or employee villages in past decades.
Altre was born by inheriting assets. There are...
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