Managing Automotive

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Managing Automotive

General Motors says Venezuela illegally seizes auto plant

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General Motors says Venezuela illegally seizes auto plant

General Motors said 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 U.S. companies. "In addition, other assets of the company, such as vehicles, have been illegally taken from its facilities," the company said in a statement.

[Reuters]

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