GM to pull out of Venezuela following plant seizure

Posted on 3 May 2017 by Michael Cruickshank
GM will pull out of Venezuela following the seizure of one of its plants. Image courtesy of Flickr - Meesh

US-based automaker General Motors (GM) has announced that it will pull out of Venezuela following a lengthy legal and political fight.

Mid last month the company’s primary factory in Venezuela was reportedly seized by the state due to the decision of a judge. According to the Venezuelan officials, the plant had not been seized but rather put under embargo due to a legal dispute relating to an alleged breach of control dating back to 2000. The…

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