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Concrete
August 21, 2008
Venezuela’s plan to nationalize cement companies moves ahead
CARACAS, Venezuela
Venezuela’s vice-president says France’s Lafarge SA and Switzerland’s Holcim Ltd. have agreed to compensation terms for the nationalization of their cement companies in the country.
But vice-president Ramon Carrizalez says an agreement with Mexico’s Cemex SAB “hasn’t been possible.”
Without an agreement with Cemex, he says the next step would be expropriation by the government.
Carrizalez spoke this week after officials of Lafarge and Holcim signed agreements spelling out the process for transferring shares to the government.
Associated Press
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