Texas says Mexico’s Cemex owes at least $558 mln in royalties

Wed, 24 Jun 2009 | Published in Businesses

* Texas says Cemex owes at least $558 mln in royalties

* Lawsuit latest concern for debt-laden Mexican company

* Cemex says sand, gravel not subject to royalties (Recasts; adds background, Cemex debt details)

By Robin Emmott

MONTERREY, Mexico, June 23 (Reuters) – The U.S. state of Texas said on Tuesday it filed a lawsuit against Mexico’s Cemex SA for $558 million in royalties owed in the United States, the latest headache for the debt-laden cement maker.

Texas Land Commissioner Jerry Patterson said Cemex (CMXCPO.MX)(CX.N), the top cement maker in the United States, was mining a quarry near El Paso, Texas, without paying royalties to the owner, the state’s Permanent School Fund.

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