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Venezuelan President Hugo Chavez continued his wave of nationalization, announcing an immediate takeover of Venezuela’s cement industry.
V
enezuelan President Hugo Chavez continued his wave of nationalization, announcing an immediate takeover of Venezuela’s cement industry. The move will adversely affect Mexico’s Cemex, the world’s No. 3 cement company, which is already facing falling profits from the U.S. housing slump. Venezuela took over a Colombia-based cement maker last year. (Reuters)

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