GM ceases operations in Venezuela after plant takeover


By Reuters

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General Motors said on Tuesday it has ceased operations at its Venezuela plant and will take up to a $100 million charge after a judge ordered the seizure of its plant last month.

The largest U.S. automaker said it is deconsolidating its business in Venezuela. The decision follows the seizure of GM’s Valencia plant in Venezuela on April 18 by judicial authorities, which led the automaker to fire 2,700 workers via text message. The GM plant had not produced a car since the beginning of 2016 beca

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GM ceases operations in Venezuela after plant takeover originally appeared on Autoblog on Tue, 02 May 2017 11:28:00 EDT. Please see our terms for use of feeds.

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