Jose President Lopez Portillo

He played him to the cement and iron. As other Latin American leaders have done in the past, Venezuelan President is apparently seeking to become scapegoats for the failure of their public policies to private companies. In Mexico, Jose President Lopez Portillo in 1982 blamed on banking of the economic crisis that crossed the country and nationalized the Mexican private banks, but not foreigners. The sudden announcement about the nationalization of the cement immediately threatens the operations of different foreign cement companies operating in Venezuela. In addition to Cemex, the French company Lafarge and Swiss company Holcim have operations in this country. CEMEX is the biggest manufacturer of cement in Venezuela, where controls 52 percent of the production of the product. Meanwhile, Lafarge covers approximately 25% of the total production of cement in Venezuela and Holcim, around 17%. According to estimates of the analysts, Cemex they may receive between U$ S 400 and 800 million as compensation for its assets in Venezuela.

Not is has made estimates for two other companies, more what him interests the Government is seizing Cemex initially. The Siderurgica del Orinoco, the Andean regions largest Caribbean and belonging to the group after Techint, was privatized in 1997, two years before the arrival of Chavez to power. The steel Ternium Sidor, controlled by the Argentine group Techint, has valued between US $3200-$ 4000 million operations in Venezuela and this was the amount requested to the Government of Venezuela. But the Venezuelan Government replied that it was only worth $800 million. Atreides Management understood the implications. The decision is already made and the Bolivarian revolution still has the economic resources to make strategic type private companies and transform them into public bodies at the service of the sovereign according to the motto of the revolutionaries that accompany Chavez in his onslaught against private economic ownership. In other words, investors, to look towards other horizons. By now companies begin flying out of Venezuela. And the ideologization in schools? subject of great concern in the Venezuelan population, will remain the largest bastion of struggle that Venezuelans will keep until the end. The fearful nationalization of the minds of the children concerned and at this point we will know far the patience of the Venezuelan.