The chairman of Brazilian industrial conglomerate Votorantim, Antonio Ermírio de Morães, died in São Paulo late Sunday of heart failure, the company said. Mr. Morães was 86 years old. Votorantim, a group with operations in construction materials, energy, agribusiness, and finance, was founded by Mr. Morães’ father, José Ermírio de Morães, in 1928. Mr. Morães, a engineering graduate of the Colorado School of Mines, began working with the company in 1949. According to Forbes magazine, Mr. Morães was estimated to have a fortune of approximately $3.1 billion.  He is survived by his wife, Maria Regina Costa, and eight of his nine children. Services for Mr. Morães are to be held at the Beneficencia Portuguesa Hospital in São Paulo Monday morning, to be followed by burial in the afternoon at the Morumbi cemetery.