Government, Cemex resume negotiations

Government, Cemex resume negotiations
Published: 27 August 2008

The Venezuelan government and Cemex resumed negotiations on August 25 regarding the compensation the firm will receive for the nationalisation of subsidiary Cemex Venezuela’s assets, Venezuelan paper La Hora reported.
 
Although talks have been amiable thus far, the possibility of other avenues of action has not been ruled out, Venezuelan vice president Ramón Carrizalez was quoted as saying in the report.
 
The meeting covered negotiation timelines and subjects for future meetings, among other topics.
 
Cemex Venezuela was expropriated by President Hugo Chávez on August 19 under a plan to nationalise the local cement industry announced April 3.
 
Since the announcement, Cemex has sought to obtain satisfactory compensation for its Venezuelan facilities.