The Bottom Line
Venezuelan President Hugo Chavez continued his wave of nationalization, announcing an immediate takeover of Venezuela’s cement industry.
Venezuelan 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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