Holcim pursuing final compensation payment

Final compensation installment of $97.5 million for nationalization of Holcim Venezuela delayed

HOLCIM say they have not yet received the last compensation installment in connection with the nationalization of Holcim Venezuela in 2008.

The Corporación Socialista Del Cemento, S.A. that is operating the former Holcim plant has not transferred the remaining compensation amount of US$97.5 million which was due on 10 September 2014.

Holcim say they are 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.