McInnis Cement denies subsidy

McInnis Cement denys any subsidies forits Canadian cement plant in a response to Lafarge North America’s recent statement.

“The McInnis cement project has no subsidies. The project is being financed based on the merits of the business, with all debt and equity investors involved doing so on a commercial basis alone,”McInnis said.

“McInnis will continue to fully support and cooperate with the USTR, supplying comprehensive and transparent information regarding the project’s financial structure.”

McInnis goes on to accuse Lafarge of attempting to stifle competition at a time when market shortages could drive up prices.

The statement concludes: “Regardless of Lafarge’s pervasive intervention, our construction in Quebec continues to accelerate. McInnis will successfully build its new plant and terminal network to satisfy future Canadian and US cement needs.”

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