Mexican Military Seizes Assets of US Company

Mexican Military Reportedly Seizes Assets of US Company

( – Vulcan Materials Co. has been operating in Mexico for decades. In May 2022, the government shut the company down, making it impossible for the Alabama-based firm to ship construction materials or quarry. The Mexican government has now taken control of its port and some of its property.

On Monday, March 20, Vulcan announced the Mexican authorities took over its port terminal in Playa del Carmen. The incident reportedly took place on March 14, Reuters reported. Armed forces entered the facility along with workers from the Mexican cement company Cemex. Vulcan, which makes asphalt and ready-mixed concrete, released a statement condemning the actions of the government and Cemex, and criticizing them for their “reckless and reprehensible armed seizure.”

Prosecutors and a court order reportedly supported the action. Vulcan claimed the raid was illegal, but didn’t explain how. Cemex told the press that its contract with the American company allows it to use the terminal.

Vulcan has said Mexico’s decision to shut down its operations last year has made it difficult for the company to provide materials to the US to complete projects on roads and bridges. President Andrés Manuel López Obrador alleges the company has tried to extract minerals in his country without the proper permits.

Fox News reported Vulcan CEO J. Thomas Hill sent a letter to Mexican Ambassador Esteban Moctezuma Barragán asking the government to “immediately order its forces and officials to leave [the company’s] private property.” He went on to claim it was a “gross violation” of its property rights, saying it was an example of Mexico’s “arbitrary and illegal treatment” of the US company.

Sen. Katie Britt (R-AL) said the Mexican government’s seizure of the port terminal is “unlawful and unacceptable.” She called on President Joe Biden to raise the issue with the US ally and let them know the behavior “will not be tolerated.”

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