GM Ceases Operation in Venezuela as Plant Is Seized

21 Apr 2017   Venezuela

General Motors Co. became the latest multinational company to exit what used to be South America’s most lucrative consumer market, following the seizure of its plant linked to a court case. Venezuelan authorities on Wednesday unexpectedly took over GM’s plant in the central Carabobo state, seizing production facilities and car stock, the company said in a statement. GM, the world’s third-largest car maker, said it…

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