Message from Management

Maintaining our confidence in the future, despite adverse situations, is one of the characteristics that best define Votorantim Cimentos. Our history and the diversity of political and economic situations we have been through legitimize our belief in what is made to last.

In the face of the unstable political-economic environment in Brazil, our main market, we had to react quickly, with measures that could ensure our operational excellence, strategic positioning, liquidity and financial robustness. We demonstrated agility in our reaction, which involved adjustments in our organizational structure, the sale of non-strategic assets, a rigid process of control and optimization of costs, and extending the maturity of our debts, thus guaranteeing liquidity and maintaining our level of competitiveness.

Global-level geographical diversification yielded the results we expected. The resumption of the U.S. economy and improved performance in our operations in North America, Europe, Africa, Asia and Latin America offset the significant consumption contraction in Brazil.

With financial discipline and without losing focus on the necessary short-term measures, we maintained our investment program, initiated in 2007, with the goal of expanding our geographical diversification and better positioning our company in markets with growth potential. In Brazil, we start-up in 2015 Edealina plant, in Gois, and in 2016 the Primavera plant, in Par. Also in progress are expansion projects in Turkey (Sivas), the United States (Charlevoix), Bolivia (Yacuses) and Argentina (San Luis).

Based on our Operational Excellence pillar, we built a new model of governance in innovation, with an interdisciplinary bias that permeates all our activities. And because Sustainable Practices is another of our strategic pillars, we have created a new business unit, focused on co-processing, using alternative fuels and raw materials.

It is important to highlight that sustainability is one of our business drivers. We have a Strategic Sustainability Plan, of our commitments for 2020. Our positioning in favor of an environmentally sustainable world, for example, was reinforced by our participation in COP 21, the Climate Conference held in Paris, where we signed a document outlined by the global cement industry with a set of initiatives to reduce carbon emissions by 2030. In line with this goal, in 2015 we created the Alternative Fuels and Raw Materials (AFR) business department, with the objective of seeking new alternative fuels and raw materials, enabling and accelerating, for example, the use of alternative fuels in the production of cement. With this initiative, we reinforce our commitment to reduce the impact of our activities on the environment. And we will even be able to use waste generated by other industries or organizations.

More than an economic and socioenvironmental issue, sustainability also involves people, as prioritized by our People with Autonomy pillar. We will work to create, day after day, an internal environment that encourages each professional, regardless of their position or level of seniority, to lead by example and to leave a legacy.

We value the partnership and loyalty of our customers. They are one of our strategic pillars and deserve our special attention, through several initiatives aimed at strengthening our commitment to provide agile service, with excellence, going far beyond the delivery of an order.

We think and invest in the long term. Our products build perpetuity. Our people support the company. Our actions reaffirm our values and our beliefs. We have much to build for this and future generations, and we are grateful to every person who is part of this journey.

*Extract of Management Message from 2015 Annual Report

Last Update on December 15, 2016

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