- "The announcement shows Chavez returning to his combative 2007 style of aggressive nationalisations after focusing this year on practical issues following his defeat in a December referendum that would have extended his socialist drive.
'Nationalise it, and as of this instant take all the legal measures ... to nationalise in the short term all of the national cement industry,' Chavez said during a televised speech.
Venezuela last year took over the assets of Cementos Andinos, owned by Colombia’s Argos. In August Chavez warned of 'corrective actions' against Venezuelan Cemex, a local division of Cemex, after residents accused it of polluting.
Chavez’s energy sector nationalisation drive last year brought all the OPEC nation’s oil fields under government control and pushed out Exxon Mobil and ConocoPhillips in the process."
The nationalization has another consequence: The hardest-hit company will be Mexico's Cemex, which controls nearly half the market. And that likely pleases Chavez to no end, considering the public spats he's had with Felipe Calderon since Calderon took office as president of Mexico. Thus, Chavez has the opportunity to increase his domestic control and stick a thorn in the side of his enemy at the same time.
Chavez had previously nationalized Venezuela's oil fields in 2007, and in early 2008 announced nationalization of electrical and telecommunications companies.
