Kimberly Clark sues Venezuela for loss of company that was "nationalized" in 2016
Kimberly-Clark sued Venezuela for expropriation of company in 2016
April 19, 2018
Ronald Romero / April 19, 2018.- The specialist in International Law, Mariano de Alba, informed on Wednesday that the US company Kimberly-Clark is suing Venezuela for the expropriation of its factory in 2016.
"The American company Kimberly-Clark filed a lawsuit against #Venezuela at the World Bank's arbitration center (#CIADI) for the confiscation of its factory in July 2016," he said through his Twitter account.
The Government of Nicolás Maduro announced on July 11, 2016, the expropriation of the company Kimberly Clark Venezuela, located in the San Vicente sector, in the state of Aragua, after the directors decided to close their doors indefinitely in the oil nation.
"As of today, Monday, Kimberly-Clark reopens its doors, we will protect the workers," said the minister for the Social Work Process, Oswaldo Vera.
"On Friday, this company closed its doors throwing thousands of workers into the streets and we, by order of the President of the Republic, will occupy this company and we will protect the workers of Kimberly Clark," the Minister concluded that day.
http://www.noticierodigital.com/2018/04/kimberly-clark-demanda-venezuela-expropiacion-empresa-2016/
The company has been renamed Industria Gran Cacique Maracay... and it is now in the hands of "El Pueblo". Kimberly Clark shut its doors in 2016 when it couldn't get the raw materials to keep producing. (There isn't anybody producing anything in Venezuela these days, so everything must be imported and paid for with hard currency... not worthless Bolivars.) So they shut down. Maduro proclaimed that this was illegal, so he "gifted" the company to The Masses. They are now the owners of the company. And what do they produce?
Nothing. The factories have been essentially stripped of anything of value, including copper wire and plumbing. They made a months worth of sanitary napkins from materials they could confiscate from wholesalers, but since then... not a sheet of paper has come from this new company.
