CEMEX making progress in Venezuelan dispute
Negotiations with the Republic of Venezuela over nationalization of CEMEX Caracas make constructive progress
WITH respect to the nationalization of CEMEX Caracas in Venezuela, CEMEX have stated that they are continuing to maintain a constructive negotiation process with the Republic of Venezuela aimed at achieving an amicable settlement.
Following recent progress in these negotiations, the company considers that an agreement may be finalized in the near term, a move which would make the ongoing arbitration process in ICSID (International Centre for Settlement of Investment Disputes) between the Republic of Venezuela and CEMEX Caracas unnecessary.
WITH respect to the nationalization of CEMEX Caracas in Venezuela, CEMEX have stated that they are continuing to maintain a constructive negotiation process with the Republic of Venezuela aimed at achieving an amicable settlement.
Following recent progress in these negotiations, the company considers that an agreement may be finalized in the near term, a move which would make the ongoing arbitration process in ICSID (International Centre for Settlement of Investment Disputes) between the Republic of Venezuela and CEMEX Caracas unnecessary.
