Venezuela takes over closed Clorox factory
CARACAS, Venezuela (AP) — Venezuela's government has occupied a factory belonging to Clorox just days after the U.S. company announced it was shutting down operations in the country due to its economic crisis.
Vice President Jorge Arreaza says the socialist government decided to occupy the factory Friday to protect hundreds of jobs as a result of the Oakland, California-based company's decision to abandon the country.
In Arreaza's words, "There was nothing else we could do. They left Venezuela and we couldn't even talk to anyone except with a representative in Argentina on a video conference."
Clorox Co. said this week that it was ending operations in Venezuela and looking to sell its local affiliate after struggling for years with rigid price controls and galloping inflation that made it impossible to make a profit.