Cement Newsline

Total shipments of portland and blended cement, including imports, in the United States and Puerto Rico in March 2020 were 7.7 million metric tons (Mt), an increase of 5.1% from shipments in March 2019, according to the most recent USGS Mineral Industry Survey. Shipments for the year through...
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A Significant Series of Investments Could Increase Installed Cement Capacity in Bolivia. By Mauro Nogarin
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Cement Products

In a move designed to bring versatility to its lineup of dust suppression equipment, BossTek introduced an optional Variable Frequency Drive (VFD) system that allows users to adjust air flow to suit a broader range of applications and working environments. Driven by customer input from a number of...
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Holcim Receives Overdue Payment from Venezuela

Venezuela paid Holcim Ltd. the final installment of a total $650 million agreed compensation for seizing the Swiss company’s cement plants in 2008, reported Bloomberg. The $97.5 million was due almost three months ago.

 

Former Venezuela President Hugo Chavez nationalized Venezuela’s cement industry in 2008 citing failures to sufficiently supply the local market. He also seized assets from Cemex SAB and Lafarge SA.

Investors have become increasingly concerned that Venezuela is running out of cash to pay its debt as its foreign reserves fall and its economy heads for its biggest contraction since 2009, according to data from the International Monetary Fund. Venezuela, which imports three-quarters of the goods it consumes, has seen export revenue slump as oil prices tumble.

The country ranks among the biggest losers from the recent decision by the Organization of Petroleum Exporting Countries to let the force of the market determine the price of oil, noted Bloomberg.

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