Tuesday, September 26, 2006

Money To Burn ?


The financial papers have recently been full of rumours of a 6.3 BILLION POUND Cemex takeover of the Hanson building and aggregates company, which has a large market share in the USA, and the UK. In the UK any acquisition would probably fall foul of the anti trust laws, and be regulated.

The suggested price is £6.3 billion, more than DOUBLE the $5.8 million price tag Cemex paid last year for RMC.

So the Warwick Court Recorder need not overly worry himself over the size of the Cemex piggy bank! They obviously have money to burn and the anticipated fine, to be imposed on 3rd October, will no doubt just be "small change" for these guys!


COMPLAINTS: Campaigners appalled by new figures on Rugby plant - says

Evening Telegraph 25 September.

Critics hit out against Cemex today after new figures revealed the factory had been investigated 25 times in the past 3 years. The new figures showing the Rugby Cement factory had one suspected breach of Environment Agency regulations every 6 weeks follows a Freedom of Information request by the Evening Telegraph. In a statement an Environment Agency spokesman said "In the last three years there are a total of 25 incidents on our system which have led to justified complaints. For 7 of these 25 incidents we have received multiple complaints."

Lilian said "It is terrible. 25 incidents might sound not like a lot to some people but this is just the tip of the iceberg. The EA gives them a good "Operator Score" (OPRA) but their compliance level is very low. That means Cemex wheedles their way into the Agency's good books and then the Agency does not regulate them as much. Then it is a case of 'while the cat's away the mice will play'."

Earlier this month the plant was named in a pollution black list in the environmental journal ENDS report. In August the company pleaded guilty at Warwick Crown Court to breaching regulations set down in the company's operating regulations. The breach followed a fallout of dust from its factory in October last year. Cemex is due to be sentenced at Warwick Court on 3rd October.

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