Re: Venezuela expropriates sugar processing plant

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GWhatesmidgets

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Re: Venezuela expropriates sugar processing plant

in response to

Venezuela expropriates sugar processing plant

mineonmoney

posted on Apr 30, 2009 02:54PM

The decree says the government is taking over Central Azucarero Cariaco CA ( CA - news - people ) because it has been failing to produce at its full potential.

Translation: Due to price controls the company has been unable to operate\produce at a profit. The decree assures more losses going forward resulting in unpaid vendors and workers.