In 1963, Companhia Mineira de Água e Esgoto – COMAG was created by the State of Minas Gerais to provide water and sewage services to the municipalities of the state.
With the creation of the Financial System for Sanitation (Sistema Financeiro do Saneamento) and the National Sanitation Plan (PLANASA), the State Basic Sanitation Companies were founded. At that time, the Municipal Water and Sewage Department (DEMAE), which was responsible for the sanitation services of Belo Horizonte, was absorbed by COMAG. Thus, following mergers of municipal companies and massive growth, COMAG changed its corporate name to Companhia de Saneamento de Minas Gerais – COPASA MG in 1974.
Amendment of the State Law no. 6084/1973 (Company’s creation law), which expanded the Company‘s incumbencies, allowing it to also collect, recycle, treat and dispose of urban, domestic and industrial waste. The Company was also authorized to establish partnerships with domestic and foreign companies, and enter into agreements or contracts with entities of the Federal, State and Municipal government entities or entities of the indirect administration in any government level.
Registration as a closely held Corporation.
IPO, with shares listed in the Novo Mercado segment of B3 – Brasil, Bolsa, Balcão, a segment that requires higher commitment to transparency and corporate governance rules.
Creation of three wholly owned subsidiaries: COPASA Serviços de Saneamento Integrado do Norte e Nordeste de Minas Gerais (COPANOR), COPASA Águas Minerais de Minas and COPASA Serviços de Irrigação.
Approval of Federal Law 11,445/2007 (Sanitation Law), which established new rules and guidelines for the regulation, monitoring, planning and rendering of services.
Secondary public offering of shares (follow-on), in which the municipality of Belo Horizonte, the second largest shareholder until then, disposed of all its the shares. The State of Minas Gerais, which continued to be a controlling shareholder, sold part of its shares.
Establishment of the Minas Gerais State Water and Sewage Regulatory Agency (ARSAE-MG), through State Law 18,309/2009, with the purpose of regulating and monitoring sanitation activities, as well as determining the tariff structure.
Organizational restructuring, with a reduction in the number of Executive Officers, commissioned positions and employees.
The activities of subsidiaries COPASA Serviços de Irrigação and COPASA Águas Minerais de Minas were discontinued, since their purposes were not in line with the Company‘s Corporate Strategy.
Conclusion of the Company‘s first Tariff Revision by the Regulatory Agency ARSAE-MG.
Signing of the first landfill concession, with the municipality of Varginha, where COPASA receives, treats and disposes of solid waste.
Improvement of Corporate Governance, with the creation of the Superintendence of Conformity and Risks, implementation of the Statutory Audit Committee and revision/institution of Governance Policies. In addition, the Annual Report on the Activities of Internal Audit (RAINT) and the Annual Chart of Governance and Public Policy were published for the first time.
The Company began making profound transformations, designed to prepare it to face the new environment that has been emerging in the sanitation sector. The Company has been extensively restructured, the strategic planning has been reviewed and the organizational structure has been adjusted, with a reduction in the maximum number of executive areas from 8 (eight) to 5 (five) and a decline of almost 20% in the number of organizational units. The Relationship and Market executive area was created to increase the efficiency of actions related to relationships with clients, whether they are consumers or the granting authority, as well as to better organize the process of prospecting and attracting business opportunities.
In line with the Integrity Plan, the Company created and implemented several policies related to Internal Control, Gifts and Presents, Conflict of Interest, Corporate Governance and Related-party Transactions.