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General Motors says Venezuela illegally seized auto plant

It said seizure would cause irreparable damage to company, its 2,678 workers, 79 dealers, suppliers

Reuters  |  Caracas 

General Motors said on Wednesday that Venezuelan authorities had 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. In addition, other assets of the company, such as vehicles, have been illegally taken from its facilities," the company ...

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First Published: Thu, April 20 2017. 18:53 IST