Materials: Venezuela Nationalizes Cement

摘要

Venezuela has taken control of all cement production as part of President Hugo Chavez's ongoing nationalization campaign. The government reached agreements totaling more than $819 million with cement companies Lafarge SA and Holcim Ltd. to take majority stakes in their Venezuelan units. When meetings with Cemex SAB broke down on Aug. 19, the government, backed by the national guard, took operational control of the Cemex facilities. Government officials said Cemex was seeking $1.2 billion in compensation.