A CBAthe group’s aluminum producing company Votorantimannounced this Thursday (21) the sale of its 3.03% stake in Alunorte to the Swiss company Glencore for R$ 236.8 million.
According to CBA, the sale of the stake is in line with the strategy of strengthening its core business “since the company is self-sufficient in alumina, the raw material for aluminum, integration into the chain is one of its main competitive advantages”.
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Alunorte was conceived in the mid-1970s in a partnership between Vale and Nippon Amazon Aluminum for the extraction of bauxite, an ore that is the basis of aluminum. The company began operating in 1995 and, since 2010, has been controlled by the Norwegian Norsk Hydro. Located in Barcarena (PA), it is today the largest alumina refinery in the world outside of China.
