Editorial

In July, a group of investors that manages $2 trillion told cement makers to accelerate efforts to reduce their emissions. The coalition is made up of...
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Cement Newsline

Total shipments of portland and blended cement, including imports, in the United States and Puerto Rico in September 2019 were 9.4 million metric tons (Mt), an increase of 13% from shipments in September 2018, according to the most recent USGS Mineral Industry Survey. Shipments for the year...
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Cement Products

KEMPER launched two general ventilation systems with storage filters onto the market – the CleanAirTower SF 5000 and SF 9000 models. Thanks to Cloud connectivity on the Kemper Connect portal, all parameters can be monitored from anywhere at any time. The manufacturer recommends the systems as a...
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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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