Cemex Venezuela unit reopens

Cemex Venezuela unit reopens
22 February 2006


The Venezuelan unit of Mexican cement company Cemex (CX) reopened its administrative offices Tuesday after the Seniat tax authority shut them on Monday for bookkeeping irregularities, said a company executive.  "The offices are open," said Corporate Director Luis Manuel de Llano.  He said Vencemos, as Cemex’s local unit is known, plans to pay a $106,000 tax fine shortly. He added that the administrative closure caused no losses, as the company’s plants remained operational Monday. Vencemos’ sales hit $134.7m last year amid robust growth in the construction industry.  Published under Cement News