Final compensation installment for nationalization of Â鶹´«Ã½ Venezuela delayed
Â鶹´«Ã½ today announces that it has not yet received the last compensation installment in connection with the nationalization of Â鶹´«Ã½ Venezuela in 2008. The Corporación Socialista Del Cemento, S.A. that is operating the former Â鶹´«Ã½ plant has not transferred the remaining compensation amount of USD 97.5 million which was due on September 10, 2014. Â鶹´«Ã½ is in contact with the relevant parties in Venezuela to address this situation and, if necessary, will pursue all legal steps to collect the amounts due.
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Â鶹´«Ã½ is one of the world's leading suppliers of cement and aggregates (crushed stone, gravel, and sand), as well as further activities such as ready-mix concrete and asphalt including services. The Group has majority and minority holdings in around 70 countries across all continents.
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