General Motors Plant Seized in Venezuela

General Motors was operating a plant in Valencia until it was “illegally seized by the Venezuelan government”. Some say that’s what happens when an American company chooses to do business overseas vs keeping the plant here in American and employing American workers. The country is suffering economically and this isn’t the first time a company seizure has occurred. Ford left the country last year. Venezuela’s government has taken over factories in the past. In 2014 the government announced the “temporary” takeover of two plants belonging to U.S. cleaning products maker Clorox Co which had left the country.  This could really effect the company being that this plant produced a lot of parts for a number of GM products.

The GM logo is seen in Warren, Michigan, U.S. on October 26, 2015. REUTERS/Rebecca Cook/File Photo