Colombia: Cemex Latam Holdings has denied that it has an office dedicated to illegal activity following accusations of bribery in the local media. In a statement to the Superintendencia Financiera de Colombia, the company said that its Enterprise Risk Management office “supports the decision-making process by anticipating and coordinating risk management that could make it difficult for Cemex to reach its strategic objectives and identify short, medium and long-term opportunities.” It addd that risk management was an institutional process followed by companies around the world to anticipate and mitigate potential business hazards.
Cemex Colombia has been linked by Semana magazine and other outlets to payments to political figures in return for preferential treatment on construction contracts. The cement producer has also faced a long running investigation by local and US agencies into unusual payments relating to its Maceo cement plant project in Antioquia.