Home Business NewsBusiness A GM car plant in Venezuela has been seized

A GM car plant in Venezuela has been seized

by LLB Reporter
20th Apr 17 2:34 pm

This could bring much damage to the company

General Motors (GM) has said its car plant in Venezuela has been seized by the government due to political tension in the country.

Long-standing divisions in Venezuela have come about due to an economic crisis.

GM said its Venezuela plant has been “unexpectedly taken by the public authorities”, it’s based in the city of Valencia.

The car giant has said it will “take all legal actions” needed to help defend its interests.

As well as this other assets had been taken away from the plant, this included vehicles.

GM also added that this move could bring irreparable damage to the business.

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