Reuters are reporting that Cemex has announced that it has dismissed two senior Cemex Latam executives over suspect payments worth around US$20 million relating to a land deal in Colombia.
Cemex announced that the two were fired after an internal probe found the acquisition of land, mining rights and benefits of the tax-free area where it is building a new cement plant in Maceo, northern Colombia, breached company protocols.
In addition, the chief executive of Cemex Latam and director of Cemex Colombia, Carlos Jacks, a 24-year Cemex veteran, has resigned to facilitate investigations.
Cemex said it had informed the Colombian Attorney General about the matter and would cooperate as required.
Read the article online at: https://www.worldcement.com/the-americas/26092016/cemex-fires-executives-over-colombia-land-deal-328/