Venezuela nationalises glass company

Photo: ¡Que comunismo!/Flickr

Venezuelan President Hugo Chavez announced the nationalisation on October 25 of US-based glassmaker Owens-Illinois affiliates, said on October 27. The article said this places 60% of Venezuela’s glass bottle industry under government ownership.

Chavez described Owens-Illinois as “a company made up of US capital, with years exploiting workers, destroying [the environment] and taking with it money that belongs to Venezuelans”, said. Chavez also cited environmental destruction by the company and called for an environmental assessment study of the company and its surrounding area.

AFP reported on October 26 that Chavez said his government has “a list with more names” of companies to be nationalised. AFP said that, since 2007, the Chavez government has nationalised more than 347 companies in areas including electricity, banking, cement, steel, oil and food.