One of the plants of General Motors has been seized by local authorities due to whom they had to stop operating in Venezuela on Wednesday.
The seizure happened in country’s industrial hub of Valencia because of deepening economic and political crisis. It took spark after weeks of deadly street protests.
General Motors Venezolana, GM’s local subsidiary, said it “strongly rejects the arbitrary measures taken by the authorities and will vigorously take all legal actions, within and outside of Venezuela, to defend its rights.”
Although, GM did not give any details about its plant seizure. He said, it “was unexpectedly taken by authorities, preventing normal operations.” Also, other vehicles are also being stripped from the site. GM announced an “immediate cessation of its operations in the country,” as a result of seizure. The authorities had “total disregard” and caused “irreparable damage” to the company. There are 2,678 workers and 79 dealers. GM said that it would be paying separation benefits “as far as the authorities permit.”
In past, Venezuela’s government taken over few factories and their car industry has been in freefall.
Due to protests, Venezuela has been erupted in recent weeks. More to this, the opponents of President Nicolas Maduro blamed him of trying to create a dictatorship.