Cementos Argos plant in Trujillo pending nationalisation

Cementos Argos plant in Trujillo pending nationalisation
Published: 03 August 2007

The Venezuelan government has submitted to the Asemblea Nacional a proposal to acquire assets of the Colombian company Cementos Argos, a cement plant controlled by Corporacion de Cemento Andino, at Trujillo, privatized years ago. Cementos Argos, then named  Cementos Caribe, won the plant with an offer of US$82mil superior to the competitors  Cemex, Vencemos and Cementos Chihuahua. Venezuelan authorities reason the acquisition of Argos would pave the way to investments in a plant that would supply cement for low income customers which do not have access to the market cornered by four large international cement companies. Argos waits for a fair indemnification for its assets.