Article Image
News Link • Venezuela

GM halts operations in Venezuela after factory is seized

• fox5ny.com

The plant was confiscated on Wednesday as anti-government protesters clashed with authorities in a country that is roiling in economic troubles such as food shortages and triple-digit inflation.

The Detroit automaker said in a statement Thursday that other assets such as vehicles were taken from the plant, causing irreparable damage to the company.

GM says the plant was taken in disregard of its right to due process. The company says it will defend itself legally and that it's confident that justice eventually will prevail.

GM has about 2,700 workers in the troubled country, where it's been the market leader for over 35 years. It also has 79 dealers that employ 3,900 people, and its parts suppliers make up more than half of Venezuela's auto parts market, the company said.

Join us on our Social Networks:

 

Share this page with your friends on your favorite social network: