São Martinho’s current corporate structure is set forth below:
São Martinho Mill
On March 9, 1950, the Company’s controlling shareholders began to expand their operations in the sugar and ethanol industries through the acquisition of Companhia Agrícola Fazenda São Martinho. On October 24, 1977, Companhia Agrícola Fazenda São Martinho changed its name to Usina São Martinho S.A - Açúcar e Álcool.
Boa Vista Mill
On July 21, 2005, was created Usina Boa Vista S.A. to expand and develop the Company’s activities in the sugar and ethanol industries, as well as to co-generate electricity. Usina Boa Vista S.A. will directly own and operate its Boa Vista mill, moving to hold 27% and 63% their capital.
On a meeting held on July 23, 2008, the Board of Directors approved an increase in Usina Boa Vista’s capital in the amount of R$ 170,274, from R$ 71,726 to R$ 242,000, through subscription of 170,273,733 new common shares. Capital was paid up mainly with the capitalization of an advance for future capital increase in the amount of R$ 97,876 made by the Company and R$ 55,370 made by Usina São Martinho S.A., and funds contributed by Mitsubishi Corporation, in the amount of R$ 17,027. Consequently, São Martinho S.A.’s and Usina São Martinho’s interests in Usina Boa Vista were changed to 48.45% and 41.55%, respectively.
Omtek
On February 1, 1989, was created Omtek to diversify the Company’s portfolio of products. In partnership with Kirin Mitsubishi, the Company constructed a plant to produce RNA, which is a high value-added product derived from the molasses and sold to Mitsubishi.
Mogi Agrícola
On December 19, 2003 Mogi Ltd, shareholders’ equity was merged with Usina São Martinho and thereafter merged with Nova São José and then changed its corporate purpose to Mogi Agrícola S.A.. Currently, Usina São Martinho explores Mogi Agricola’s Lands by means of a lease agreement.
