Chavez Plans to Nationalize Venezuela Cement Industry
Venezuelan President Hugo Chavez said he plans to seize cement operations in the country, threatening the assets of the nation's largest producer, Cemex SAB of Mexico.
``Starting from now, all legal and economic measures should be taken to nationalize the national cement industry in the short term,'' Chavez said in a communications ministry statement.The move would also affect Lafarge SA of France and Holcim Ltd. of Switzerland. Many cement companies are polluting the environment and have failed to invest in new technology, Chavez said. The state will pay the plant owners ``whatever it costs'' and invest in the modernization of factories, he said....MORE