Mexico's Cemex keen to stay in Venezuela

Mexico's Cemex, the world's No. 3 cement maker, is eager to stay in Venezuela despite the pending nationalization of its local assets, the company's chief executive told a newspaper on Friday. Venezuelan President Hugo Chavez said earlier this year he would take over the Venezuelan units of Cemex, Switzerland's Holcim and France's Lafarge, taking at least 60 percent ownership. Chavez's government says the cement companies can negotiate over continuing as minority partners and seek compensation for the loss of their assets. 'Cemex ... will continue to contribute to Venezuela's prosperity. Our intention is ... to collaborate with the Venezuelans,' Cemex's Chief Executive Lorenzo Zambrano told La Jornada newspaper. 'We are willing to continue working in that country,' he added. Venezuela said this month that once negotiations are over with Cemex, Holcim and Lafarge, the state will complete the transfer of ownership and operations by the end of the year.