With a 491million dollars investment, the Votorantim Group acquired in March, 2007 52% of the capital share from the second largest integrated steel company in Colombia, Acerías Paz Del Río. In April, 2007 through an Initial Public Offering (IPO), VS’s share leaped to 72.67%.
The company was founded at the beginning of the 20th century with the discovery of the first iron ore deposits in the Pacho region, Cundinamarca department. The government’s authorization to build the plant was issued in December 1947 and on October 13th, 1951 the steel plant started its operations to become one of the largest producers in the country.
Today, the steel company produces 450 thousand tons of both flat and long steel, and has one of the biggest iron ore mines in Paz de Río, a coal mine in Paz de Río and Samacá, and a limestone mine in Belencito. The reserve size guarantees long-term operations.