General Motors: Venezuelan Authorities Illegally Seized Auto Plant
General Motors said on Wednesday, April 19, that Venezuelan authorities illegally seized its plant in the industrial hub of Valencia and vowed to “take all legal actions” to defend its rights.
The seizure comes amid a deepening economic crisis in leftist-led Venezuela that has already roiled many US companies.
“Yesterday, GMV’s (General Motors Venezolana) plant was unexpectedly taken by the public authorities, preventing normal operations,” the company said in a statement. “In addition, other assets of the company, such as vehicles, have been illegally taken from its facilities.”
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