August 23, 2008
CARACAS -- President Hugo Chávez has lashed out at Cemex SAB, saying Venezuela is ready to put up a fight in international arbitration as the Mexican cement company seeks to challenge the nationalization of its cement plants.
Chavez said Cemex executives had been ''irresponsible'' and ''disrespectful'' during failed compensation talks ahead of the takeover. He criticized the company's environmental record and accused it of price-gouging.
''We're going to battle,'' he said. ``We made every effort to reach an agreement.''