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| Caribbean-Latin America |
| Venezuela nationalises cement firms |
| 2008-08-19 |
| Venezuela has said it will seize local plants and offices belonging to Mexican cement giant Cemex, as it proceeds with nationalising its cement industry. Cemex's Swiss and French rivals Lafarge and Holcim have agreed to hand control of their local subsidiaries to Caracas. However, a deal with Mexico's Cemex "hasn't been possible", said Venezuelan Vice-President Ramon Carrizalez. Venezuela has begun nationalising several industries as part of a drive toward "21st-Century socialism". Mr Carrizalez said that Venezuela had acquired 89% of Lafarge's Venezuelan operations for $267m and paid $552m for 85% of Holcim's local unit. The two firms have signed agreements setting out the process for transferring shares to the government. Mr Carrizalez said Cemex had asked for $1.3bn for its Venezuelan operations. A spokeswoman for Lafarge earlier said that the company was working to protect the interests of shareholders and staff based in the country. |
| Posted by:Fred |
| #10 General Luckey and the FLA appear on the same day. It's fate. Gotta be fate. |
| Posted by: .5MT 2008-08-19 19:08 |
| #9 Hey, maybe the Mexican Army will save us the trouble of whacking Hugito, huh? |
| Posted by: mojo 2008-08-19 17:34 |
| #8 More bodies to dispose of? No wait, that's Chicago style. Maybe BO's friends can help out some. |
| Posted by: Richard of Oregon 2008-08-19 10:21 |
| #7 another victory by proxy for the Flyash Liberation Army. |
| Posted by: Frank G 2008-08-19 09:50 |
| #6 I think Cemex is the only cement company in Mexico. That should give you an idea of how big it is. I'm sure CA Rambler is right on both accounts. Without the management to run the plant it will not produce much. |
| Posted by: bigjim-ky 2008-08-19 09:07 |
| #5 notice Chavez is nationalizing a MEXICAN company, as MOrales took Brazilian natural gas interests. 1. The more advanced and capitalist 3rd world countries engage in the their own FDI, and have their own multinationals 2. the far lefties dont like them any better 3. this isnt about 'western imperialism' 4. to continue these nationalizations, will mean pissing off neighbors. |
| Posted by: liberalhawk 2008-08-19 08:58 |
| #4 imoyaro, that's the scope of it. |
| Posted by: Spike Uniter 2008-08-19 07:24 |
| #3 Thus assuring a state monopoly on concrete overshoes... |
| Posted by: imoyaro 2008-08-19 07:17 |
| #2 HOT AIR > seems HUGO has announced that RUSSIA may send a NAVAL SQUADRON/TASK GROUP TO VISIT VENEZUELA = CARIBBEAN??? |
| Posted by: JosephMendiola 2008-08-19 02:43 |
| #1 Soon to be followed by either a) a massive shortage of cement in Hugoland, or b) a massive drop in quality of cement produced in Hugoland, or c) both |
| Posted by: Rambler in California 2008-08-19 00:36 |