Advertisement

GM Halts Operations in Venezuela after Factory is Seized

GM Halts Operations in Venezuela after Factory is Seized

April 20, 2017 07:43 AM

DETROIT (AP) - General Motors says it has halted operations in Venezuela after authorities seized a factory.

Advertisement – Content Continues Below

The plant was confiscated on Wednesday in what GM called an illegal judicial seizure of its assets.

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

GM says the plant was taken in disregard of its right to due process. The company says it will defend itself legally and 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.

Venezuela has been rocked in recent days by violent protests of government policies as well as food shortages and triple-digit inflation.


WDIO

Copyright 2017 The Associated Press. All rights reserved.

Advertisement
Advertisement

Spokesperson: Franken Won't Resign

3 Hunters Accidentally Shoot Themselves on Wisconsin Gun Deer Opener

Local Family Holding 4th Annual Holiday Toy Drive For Hospital Patients

Mille Lacs Band of Ojibwe Sues County over Lax Policing

University of Minnesota Business School Increasing Options

Local Wisconsin Officials Considering Own Mining Regulations

Advertisement
Advertisement
Advertisement