Let's stay in touch!

All of the latest news and our digital edition sent to your inbox once a week.

We'll never share your email address, and you can opt out at any time, we promise.

Cemex Latam Holdings SA, a unit of Cemex, announced that Carlos Jacks, chief executive of Cemex Latam and director of Cemex Colombia, resigned to “facilitate investigations” after an internal probe found payments related to a cement plant being built in in Maceo, Colombia, didn’t adhere to company policy, reported Bloomberg. Cemex Latam Chairman Jaime Muguiro, who’s been with the company for about 20 years, will take over CEO duties.

The company found payments of about $20 million were made to a non-government individual for land and mining rights, and benefits related to a tax-free area where the Maceo cement plant is being constructed, according to a regulatory filing posted Sept. 23 on the Colombian financial regulator’s website. Cemex said it immediately terminated the vice president for planning and the general attorney for its Latin American and Colombian units.

Cemex has informed Colombian prosecutors of the results from its internal probe, according to the statement, adding that it can’t say whether investigations and actions taken will affect the company.

2018 Cement Directory

NACD

Updated, the new 2018 North American Cement Directory.


Available January, 2018 for ordering exclusively from Cement Americas. Order Now for Delivery in January, 2018

Resource Center