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Limited exposure to Europe helps Votorantim Cimentos in IPO quest

In 2012 business reviews, the world’s leading public cement companies confirm sales or profit declines reflecting deep ties to European Union economies beset by nightmarish governing. Brazil’s Votorantim Cimentos S.A. is preparing to join the publicly traded operators club, presenting investors a portfolio with a key differentiating factor—minor European exposure—compared to peers Cemex SAB de C.V., Heidelberg Cement, Holcim Ltd., Italcementi SpA and Lafarge Group.

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Producers check unions’ enterprise coercion

When President Obama’s critics talk about abuse of executive power, a National Labor Relations Board reference is close at hand. Questioning the constitutionality of three Board Members' appointments, made when the administration deemed the Senate in recess, the U.S. District Court of Appeals for the District of Columbia Circuit ruled in January that the NLRB lacked a quorum in a 2012 decision for which Washington state employer Noel Canning sought review. The NLRB responded last month, petitioning for Supreme Court review of the appellate court ruling. Post-2011 Board orders would be jeopardized in the event the high court refuses to review the ruling, or upholds it.

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