Cemex in dispute with Nicaraguan producer

Cemex in dispute with Nicaraguan producer
Published: 02 April 2004

Cemex is reportedly in dispute with Nicaragua’s state-owned cement maker Cementera Nacional (Canal) over the terms of a lease contract for a plant in Nicaragua, it was reported on March 30, 2004.  The lease for a period of 25 years was signed in 2001.  According to Canal, the contract terms included the plant’s liabilities, which totalled some US$3.0m to date.  Canal’s management threatened to undertake legal action against Cemex, but Cemex CEO, Mauricio Sanz Santamaria, said that he doubted that there were grounds for a lawsuit.