CEM S.A. Stock

Cem SA is a Chile-based company principally engaged in the manufacture of dishwashing machines, water heaters and heating appliances, such as electric and water space heater controls, and portable electric and water space heaters for domestic or industrial use which are distributed under the Splendid brand. The Company is also involved in the control, distribution and inspection of gas supply valves and regulators for the appliances industry, as well as in the smelting of nonferrous metals and in the manufacture and distribution of gas storage tanks. As of December 31, 2011, the Company owned fully consolidated subsidiary Inmobiliaria Cemco SA, and Empresas Cem SA, a Chile-based syndicated group of companies, were its majority shareholders with 79.63% of its interest.