Holcim Receives Final Payment From Venezuela

Holcim Ltd. said Monday that it has received a final payment of roughly $100 million from Venezuela, completing compensation tied to the nationalization of its cement operations in the South American country. Jona, Switzerland-based Holcim said the Corporación Socialista Del Cemento, SA had made a $97.5 million payment to compensate the Swiss cement company for nationalization of its plants in Venezuela. The payment, part of $650 million in overall compensation, was originally due on Sept. 10. More...