Mary Nour case set for mid-October

Mary Nour case set for mid-October
Published: 28 September 2004

CDM is attracted by Mexican market

With the case against CDM set to come before the courts on the 14th October, both sides continue to push their respective cases to the media, with CDM adamant that it has set up in order to make a long-term business venture within the domestic cement sector.

 

“We are not here to play the hero – we come to make business” said Ricardo Camacho of CDM, the company that for two months has fought for the liberation of the 27,000t of cement load stored in the silo ship Mary Nour in Altamira port.

 

In press conference, Camacho said that they will compete in harmony with the prevalent market rules in Mexico and presented related data on the prevailing low cement prices in markets as Indonesia and Egypt, where Cemex operates. 

 

Last week, also in a press conference in Mexico City, the Mexican cement association Canacem, representing Cemex, Holcim’s Apasco, Cruz Azul, Lafarge and other local producers, accused CDM of lying when it stated that one ton of cement in Mexico has a price of US$115, while in US, it is worth just US$50. Canacem also pointed out that bagged cement sales dominate in Mexico which has much higher prices because of branding and distribution costs.

 

Whether the Mexican judge assigned to the case will swallow the Canacem story and thus ban the CDM operation remains to be seen. Commonsense suggests otherwise, but in Mexico, who can tell?