US company rejects Mexico’s criticism, buy-out offer, says president’s projects hurt the environment

MEXICO CITY (AP) — 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. In July, President Andrés Manuel López Obrador offered to buy Alabama-based Vulcan Materials’ Caribbean coast property for about $385 million following a years-long dispute. It said Monday the offer “substantially undervalues our assets.” The company also alleged that some quarries supplying aggregates for López Obrador’s pet project, a tourist train around the Yucatan peninsula, have been operating unlawfully. The Mexican president’s office has not reacted to the allegations. In the past he threatened to expropriate Vulcan’s extensive property, claiming the company’s actions have damaged local environment.