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A State Department spokesman said, Monday, the company was being given 45 days to end its operations in Cuba, to avoid the ban.
The State Department sent letters on November 13 telling corporate officers of the company, also known as Grupo B.M., that they had violated the 1996 Helms-Burton law.
The measure was designed to tighten the American economic embargo on Cuba.
If the ban is implemented, it will be the third time the US authorities have moved against a foreign company for trading with Cuba.
The Sherritt mining concern of Canada, and the Mexican communications company, Grupo Domos, have already been penalised.
The act provides for sanctions against foreign nationals operating in Cuba, deemed to be using property claimed by a US national.
Under the act, company executives, their spouses, minor children and agents can be denied US visas and excluded from entering the United States.
The Helms-Burton legislation has been strongly criticised by many allies of the United States.
Cuba's government web site (English)
EU statement on Helms Burton
US State Department - Policy on Cuba
The BBC is not responsible for the content of these internet sites.
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