GM halts operations in Venezuela after factory is seized

FILE - This Friday, May 16, 2014, file photo, shows the General Motors logo at the company's world headquarters in Detroit. General Motors says it has halted operations in Venezuela after authorities seized a factory. The plant was confiscated on Wednesday, April 19, 2017, in what GM called an illegal judicial seizure of its assets. GM says its due process rights were violated and it will take legal steps to fight the seizure. (AP Photo/Paul Sancya, File)

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

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.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s