Haberler      English      العربية      Pусский         Kurdî      Türkçe Delivering News and Insights Around the World Keltis
  En.Haberler.Com - Latest News
SEARCH IN NEWS:
  HOME PAGE 20/01/2018 23:36 
20.04.2017 21:58 News >> Gm Halts Operations İn Venezuela After Plant Seizure

Gm Halts Operations İn Venezuela After Plant Seizure

General Motors (GM) halted all its operations in Venezuela after its plant was seized in the country, the American automaker said in a statement Thursday.

"Yesterday, [General Motors Venezuela's] 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 statement said.

GM called the seizure as a "total disregard" and said it caused "irreparable damage to the company".

The firm, which represents more than 55 percent of the auto parts industry in Venezuela, said it will take legal action within and outside of the country.

GM's seized plant has 2,678 workers, while the company employs another 3,900 people among its 79 dealers across Venezuela.

Nationalization has been common in Venezuela under the country's former President Hugo Chavez.

That policy did not change much under the current President Nicolas Maduro, who often blamed the U.S. for his country's economic problems.

GM's stock price has not been negatively affected Thursday after the recent developments. Shares of the company was trading at $34.29 at 1800 GMT, after closing $33.79 per share on Wednesday. -



        Latest News
Turkey's Parliament Speaker Hails Afrin Operation 11 minutes ago...
Ismail Kahraman says terror groups are only target of 'Operation Olive Branch'
Abducted Foreigners İn Northwest Nigeria 'Rescued' 25 minutes ago...
2 American, 2 Canadian citizens were abducted in Kaduna state on Wednesday.
Turkey İnforms Uk, France, China On Afrin Operation 26 minutes ago...
Ambassadors of Britain, France and China to Ankara were called to Turkish Foreign Ministry.
Special Prayers To Be Offered For Turkish Military -19 minutes ago...
90,000 Turkish mosques to offer prayers for the victory of Turkish military in Syria’s Afrin.
Gunmen Storm State-Owned Hotel İn Afghan Capital -19 minutes ago...
Attackers managed to enter Inter Continental Hotel despite tight security.

 
      Top News
Update 2 - Russia Says US 'Took Provocative Steps' İn Syria Update 2 - Russia Says US 'Took Provocative Steps' İn Syria
Erdogan Vows To Bring Feto Members To Justice Erdogan Vows To Bring Feto Members To Justice
Erdogan: Ground Operation İn Syria's Afrin Begins Erdogan: Ground Operation İn Syria's Afrin Begins
Egypt Opens Nomination For Presidential Election Egypt Opens Nomination For Presidential Election
20 PKK Terrorists 'Neutralized' İn Turkey Last Week 20 PKK Terrorists 'Neutralized' İn Turkey Last Week
Update - 1,000 Pyd/Pkk Terrorists Deployed İn Syria's Tal Abyad Update - 1,000 Pyd/Pkk Terrorists Deployed İn Syria's Tal Abyad
US Could Soon Be World's Largest Oil Producer: Report US Could Soon Be World's Largest Oil Producer: Report
Turkey: 58 Sentenced To Life İn Prison Over Coup Bid Turkey: 58 Sentenced To Life İn Prison Over Coup Bid
18M Schoolchildren Receive Report Cards İn Turkey 18M Schoolchildren Receive Report Cards İn Turkey
Turkey: Number Of Newly Launched Companies Up İn 2017 Turkey: Number Of Newly Launched Companies Up İn 2017