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 News Around the Republic of Mexico | April 2008 
Mexico Condemns Venezuela's Decision to Nationalize Cement Industry
 Associated Press
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Mexico City - Mexico's finance secretary on Friday condemned Venezuela's decision to nationalize its cement industry, whose largest operator is the Mexican company Cemex.
Finance Secretary Agustin Carstens told a news conference Friday that President Hugo Chavez's order is "an inappropriate action that does not respect the property nor the rights of Mexicans."
"There is definitely nothing more to do than condemn this action," said Carstens, who was in the Pacific port of Acapulco at a bank convention.
Chavez ordered the nationalization of the cement industry on Thursday, saying he cannot allow businesses to continue exporting raw materials needed to tackle a domestic housing shortage. He said it would occur in "the short term."
Cemex, however, reported that its cement sales within Venezuela rose by 17 percent last year over 2006, with concrete volumes up by 10 percent because of construction boosted by public spending.
Exports from Venezuela fell by half, it said, because the company focused on supplying the domestic market.
One of the world's largest building material companies, Cemex SAB supplies about half the cement in Venezuela from three plants that produce about 4.6 million tons annually. It also has 13 distribution centers and four maritime export terminals.
In Mexico, Cemex spokesman Gerardo de la Torre said his company had not been officially notified of the plan. "We are requesting a meeting with the government to understand the scope of the statements made by President Chavez," he said.
Mexico and Venezuela have had strained relations in past years. Chavez accused former Mexican President Vicente Fox of kowtowing to the United States, calling him a "puppy of the empire." And Venezuela was angered when Calderon's campaign for the presidency in 2000 compared a leftist rival to Chavez, portraying him as a threat. |
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