Venezuela Is in a Fight With the Clorox Corporation
Clorox workers at the company headquarters at
Valles del Tuy, Venezuela, on Sept. 26, 2014.
Photo by Carlos Garcia/Reuters
The Oakland-based Clorox Company has shut down two factories in Venezuelabecause it says the
country's price controls are too onerous, among other problems—and
Venezuela has responded by seizing the facilities with plans to reopen them.From Reuters:
In the latest sign of dissatisfaction from private businesses
with [President Nicolas] Maduro's running of the South American OPEC
nation's economy, Clorox announced its exit on Monday, saying its
business was not viable and that it would sell its assets. ...
The company said operating restrictions imposed by the
government, economic uncertainty and supply disruptions would have led to
considerable operating losses.
Other multinationals, including Colgate-Palmolive and Avon, have made
similar complaints about the Venezeulan economy. Maduro, a close ally of
late socialist strongman Hugo Chavez, was elected president by a narrow margin
in April of last year.
The United States and Venezuela have not had ambassadors in each others'
countries since a 2010 tiff over one American diplomat's critical comments.
(Venezuela still sells the United States a great deal of oil.)
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