Cemex Venezuela, S.A.C.A. – Tipo II (antes Vencemos)

What it is

The company traces its roots to 23 September 1943, when a group of Venezuelan entrepreneurs founded C.A. Venezolana de Cementos — the country’s first major cement producer, known commercially as Vencemos.

It makes cement and ready-mixed concrete, operating three plants in the states of Anzoátegui, Lara and Zulia, plus a clinker-grinding facility in Ciudad Guayana, Bolívar.

Vencemos was taken over by the Mexican giant Cemex in 1994 and nationalised in 2008, becoming in operational terms “Cementos Venezuela.” The shares listed on the BVC under the Cemex Venezuela name — Tipo I (VCM.1) and Tipo II (VCM.2) — are the residual public securities of that pre-nationalisation entity, trading on the exchange while the physical plants are state-run.

Who owns it

Cemex Venezuela was nationalised by the Venezuelan government, which assumed control and operations of the plants from 28 August 2008. The Mexican parent Cemex reached a settlement with Venezuela’s government and its public entity Corporación Socialista del Cemento, S.A. for US$600 million in compensation, paid as US$240 million in cash and US$360 million in PDVSA securities — plus the cancellation of a further US$154 million in inter-company payables.

EMIS data shows three shareholder blocks of approximately 75.7%, 13.13% and 11.17%, but the identities behind those blocks are paywalled and not confirmed in any open-access primary source. The controlling stake is widely reported as state-held, via Corporación Socialista del Cemento; the identity of the minority shareholders is not disclosed in available sources.

Who runs it

The names of the current chief executive, board chair and chief financial officer of the listed entity are not disclosed in any open-access primary source — neither the BVC’s investor pages nor SUNAVAL’s public filings reveal them for this company. The operational cement assets are administered under Venezuela’s Ministry of Industry and Commerce.

The money, in plain words

Venezuela’s hyperinflationary environment and the government’s near-total control of cement pricing and distribution make conventional financial analysis difficult for any outside reader. No standalone audited income statement, balance sheet, or cash-flow statement for Cemex Venezuela, S.A.C.A.

– Tipo II has been located in any open-access primary source — not on the BVC, not on SUNAVAL, and not via the company itself.

Without verified revenue, profit, assets or share-count data, no net margin, return on equity, price-to-earnings ratio, or dividend yield can be calculated or quoted responsibly. All financial metrics are listed as “not disclosed in available sources” in the key-facts box above.

What it is doing now

A 2012 decree ordered the listed entity renamed “Venezolana de Cementos S.A.,” a change formalised at an extraordinary shareholder meeting in February 2013 — yet the BVC continues to list the shares under the Cemex Venezuela name. This legal ambiguity — a nationalised operating business trading under its expropriated foreign owner’s brand — remains unresolved on the exchange.

The original Mexican owner, Cemex S.A.B. de C.V., reached a full compensation agreement in 2011 and has no remaining stake in the Venezuelan operations.

The BVC homepage as of 9 July 2026 confirms the exchange is open and trading, but no material corporate announcement from VCM.2 specifically appears in recent bulletins.

What to watch

• Financial transparency: Any move by Venezuelan regulators (SUNAVAL) to compel public disclosure of audited financials would be the single most important development for investors holding VCM.2 shares.
• Venezuela macro: Cement demand tracks construction activity directly; a sustained recovery in Venezuela’s economy and housing programmes is the key volume driver for the underlying plants — at the exchange rate of 1 USD = 698.47 VES, any bolivar-denominated result translates to very modest US-dollar figures.
• Ownership clarity: The 2008 expropiación decree covered “the acquisition by force of shares in Cemex Venezuela, S.A.C.A., its subsidiaries and affiliates, as well as rights, movable and immovable assets” — but the precise post-settlement share register of the listed entity has never been made public, creating ongoing uncertainty about who legally owns the minority stakes.
• Legal precedent: Mexico lacks a clear bilateral investment treaty with Venezuela, limiting legal recourse for the original minority shareholders, while Venezuela’s nationalisation-era disputes continue to threaten its overseas assets.

This is news, not investment advice.