Venezuela Seizes Factory Owned by U.S. based Clorox

Posted on October 1, 2014 • Filed under: Business, Politics, Venezuela reported that Venezuelan President Nicolas Maduro has defended the seizure of a factory owned by US-based company Clorox. “Socialist formula: any company that’s abandoned will be taken over by the working class,” Mr Maduro said. Cleaning products maker Clorox closed its production facilities in Venezuela last week, saying government-imposed price freezes were crippling it.The Venezuelan authorities have accused Clorox of illegally abandoning the country and have seized its facilities. Read Article

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