• General Motors accused the Venezuelan authorities in the seizure of the plant in Valencia

  • The American Corporation General Motors (GM) has accused the Venezuelan government in the illegal seizure of the automobile plant, located in Valencia. On Thursday, April 20, reports Reuters.

    In addition to the seizure of the plant, GM said the illegal export of assembled cars. The actions of the authorities resulted in prejudice to 2.7 thousand workers of the enterprise and 79 stamp dealers, say in the Corporation. General Motors intends to go to court to protect their interests.

    According to the Agency, Venezuela have previously used to capture companies. So, in 2014, it was announced on the temporary establishment of external control over the factories of manufacturer of cleaning products Clorox Co. After that, the company left the country.

    Venezuela is experiencing acute financial problems due to the collapse in oil prices. Even when the raw material cost of $ 100 per barrel, the state could barely cover budgeted expenses. After the price cuts, the situation has worsened. To date, Venezuela left only 10.5 billion dollars in foreign exchange reserves.


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