Chavez Orders Expropriation of Owens-Illinois

October 26, 2010 09:01


Venezuelan President Hugo Chavez on Monday ordered the expropriation of U.S.-based glass maker Owens-Illinois Inc.’s unit in the South American country.

AP via CBS News.com

EXCERPTS:

“Chavez announced plans to expropriate the company in a televised speech, saying it operates in western Trujillo state.

The leftist leader criticized the company’s practices in the country, saying it had been “taking away the money of Venezuelans” and exploiting local people. Chavez did not detail his complaints about the company.

There was no immediate reaction from the company, based in Perrysburg, Ohio.”

FULL STORY



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