US company rejects Mexico's criticism, buy-out offer, says president's projects hurt the environment
An American quarry company has rejected the Mexican president’s campaign of criticisms and closures, and his offer to buy its property on the Caribbean coast
By Ap News
Published - May 27, 2024, 03:36 PM ET
Last Updated - May 27, 2024, 03:36 PM EDT
MEXICO CITY (AP) — An American quarry company on Monday rejected the Mexican president's campaign of criticisms and closures, as well as his offer to buy its property on the Caribbean coast.
In July, President Andrés Manuel López Obrador offered to buy the American company’s Caribbean coast property for about $385 million amid a bitter, years-long dispute.
Alabama-based Vulcan Materials said in a statement Monday that offer “substantially undervalues our assets.”
In papers filed on the case in an international arbitration panel, Vulcan Materials valued the almost 6,000-acre (2,400 hectare) property, located just south of the resort town of Playa del Carmen, at $1.9 billion.
