Semapa Sociedade de Investimento e Gestao SGPS SA is a Portugal-based holding company engaged in three business segments: Paper and Pulp; Cement and Derivatives, and Environment. The Paper and Pulp business segment, operated by the subsidiary Portucel SA, is engaged in the production and sale of cellulose pulp and paper, as well as in the forestry and agricultural production. The Cement and Derivatives business segment, operated by the subsidiary Secil - Companhia Geral de Cal e Cimento SA, is engaged in the manufacture and sale of cement, ready-mix concrete, dry pre-prepared mortars, precast concrete and hydraulic lime. The Environment business segment, operated by the subsidiary ETSA - Investimentos SGPS SA, is involved in the collection, transport, storage, processing and recovery of animal by-products, as well as in the collection and recycling of used cooking oil. The Company, through its subsidiaries, operates in Tunisia, Spain, Angola, Poland and France, among others.