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Venezuela's Minister of Energy and President of state-run oil company PDVSA Rafael Ramirez (L) and Venezuela's Vice President Ramon Carrizales (2nd L) get ready to sign an agreement on the nationalization process of the cement factories with the director of reinforced concrete company Lafarge Venezuela Maximo Dolman (2nd R) and Holcim CEO Louis Beauchemin (4th R) in Caracas on August 18, 2008. Venezuela announced today it was nationalizing the local unit of Mexican cement giant Cemex after negotiations to give Caracas a majority shareholding failed.
Maximo Dolman, right, president of the french company Lafarge SA, signs a document as Venezuela's Oil Minister Rafael Ramirez, left, and Venezuela's Vice President Ramon Carrizalez, back, look at him during an agreement signing ceremony in Caracas, Monday, Aug. 18, 2008. Carrizalez said Lafarge and Switzerland's Holcim Ltd, have agreed to compensation terms for the nationalization of their cement companies based in Venezuela.