Colombia: Cemex Latam has dismissed its Vice President for Planning and the General Attorney for its Latin American and Colombian units following an investigation into US$20m payments related to a cement plant being built in Maceo, Antioquia Province, Colombia. In addition, the unit’s chief executive officer has resigned in connection to the probe, according to Bloomberg.
The South American subsidiary of Cemex found payments of about US$20m had been 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 released by the Colombian financial regulator. Cemex has informed the Colombian prosecutors of the results of its internal probe.