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| Version 2 | Version 3 |
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| Venezuela to seize cement plants | Venezuela to seize cement plants |
| (21 minutes later) | |
| Venezuela has said it will seize local plants and offices belonging to Mexican cement giant Cemex, as it proceeds with nationalising its cement industry. | Venezuela has said it will seize local plants and offices belonging to Mexican cement giant Cemex, as it proceeds with nationalising its cement industry. |
| Cemex's Swiss and French rivals Lafarge and Holcim have agreed to hand control of their local subsidiaries to Caracas. | Cemex's Swiss and French rivals Lafarge and Holcim have agreed to hand control of their local subsidiaries to Caracas. |
| However, a deal with Mexico's Cemex "hasn't been possible", said Venezuelan Vice-President Ramon Carrizalez. | However, a deal with Mexico's Cemex "hasn't been possible", said Venezuelan Vice-President Ramon Carrizalez. |
| Venezuela has begun nationalising several industries as part of a drive toward "21st-Century socialism". | Venezuela has begun nationalising several industries as part of a drive toward "21st-Century socialism". |
| Mr Carrizalez said that Venezuela had acquired 89% of Lafarge's Venezuelan operations for $267m and paid $552m for 85% of Holcim's local unit. | |
| The two firms have signed agreements setting out the process for transferring shares to the government. | The two firms have signed agreements setting out the process for transferring shares to the government. |
| Mr Carrizalez said Cemex had asked for $1.3bn for its Venezuelan operations. | |
| A spokeswoman for Lafarge earlier said that the company was working to protect the interests of shareholders and staff based in the country. | A spokeswoman for Lafarge earlier said that the company was working to protect the interests of shareholders and staff based in the country. |
| 'Excessive profits' | 'Excessive profits' |
| Venezuelan President Hugo Chavez has accused foreign cement firms of demanding excessive profits and selling their cement overseas. | Venezuelan President Hugo Chavez has accused foreign cement firms of demanding excessive profits and selling their cement overseas. |
| Taking them over, he said, would allow his government to make faster progress with plans to end a massive housing shortage. | Taking them over, he said, would allow his government to make faster progress with plans to end a massive housing shortage. |
| "We're going to lower the costs of cement, the costs for building housing," he said in a televised address on Monday. | "We're going to lower the costs of cement, the costs for building housing," he said in a televised address on Monday. |
| Banking and telecommunications industries are also set to be taken over by the state. | Banking and telecommunications industries are also set to be taken over by the state. |