Monday, 21 January, 2019

Venezuela Seizes Kellogg Cereal Plant After Company Announces Pullout

Security personnel uses a monocular while Venezuela's President Nicolas Maduro delivers his speech to supporters during a campaign rally in Charallave Venezuela Seizes Kellogg Cereal Plant After Company Announces Pullout
Steven Clarke | 17 May, 2018, 04:23

Venezuelan authorities said they were handing a Kellogg Co plant to workers and reactivating production at the factory on Wednesday, a day after the USA cereal producer pulled out of the crisis-hit country.

Workers arriving Tuesday for the early shift at Kellogg's factory in the central city of Maracay were surprised to find a notice taped to an iron gate informing them that the company had been forced to shutter its operations in the country. "We've begun judicial proceedings against the business leaders of Kellogg's because their exit is unconstitutional", President Maduro said in front of a crowd of cheering supporters in the central state of Carabobo.

Maduro claims the U.S.is conducting an "economic war" against Venezuela.

Kellogg k said Tuesday it will discontinue operations in Venezuela immediately, blaming the country's "economic and social deterioration", the company said in an emailed statement.

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Maybe they want it too, but they are people who want to feel important and unique. Don't ask the same old questions, be original ". It continued: "They like men with initiative.

While the move is not expected to worsen food shortages in the country, Kellogg's is the most popular and easily accessible cereal for citizens in the country, according to Reuters. Maduro's government also stops companies from raising prices to keep up with hyperinflation, sometimes forcing companies to sell below the cost of production.

In leaving Venezuela, Kellogg joined such companies as Clorox, Kimberly-Clark, General Mills, General Motors, and Harvest Natural Resources. "Operations halted due to lack of raw materials, the government took it over, and now it's paralysed...."

Corn Flakes may be even scarcer in Caracas. All its contractual obligations have been settled with employees, suppliers and customers, the company said, while the license agreement for the use of its brands and characters in Venezuela has been terminated.

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