Venezuela buys meatpacking plants

Date : 03/15/2008 @ 6:40AM
Source : TFN
Click here for ADVFN's up to the minute news service. Access our extensive collection of financial news from around the world including US, Europe and Asia.
<< Back

 



Venezuela buys meatpacking plants

        CARACAS, Venezuela (AP) -     The government has bought a private chain of
meatpacking plants and has its sights set on a major dairy company, President
Hugo Chavez said Friday, as Venezuela seeks to stem sporadic shortages of food
staples.
    Chavez said the government purchased the meat plants as part of its efforts
to improve food distribution while moving toward a socialist state.
    He did not identify the company or give details, but said it represents a
majority of the country's meatpacking and cold-storage transport facilities.
    "We've nationalized a great chain," Chavez said, adding that the government
bought it outright without "trampling" the seller's rights.
    Venezuelan markets have seen shortages of staples like milk and rice.
Business leaders blame price caps and other government controls, while Chavez
accuses some businesses of hoarding goods to sell later at inflated prices.
    He said Friday his administration is negotiating to buy the Venezuelan dairy
company Los Andes. He did not give details, but said the company has the
capacity to produce about 30 percent of the country's milk output.
    Chavez, who frequently warns of what he calls aggression from the U.S.
government, alleged that one of Washington's "lines of attack" is to disrupt the
food supply.
    "They want food shortages," Chavez said in a speech to newly installed
leaders of his socialist party. "We should guarantee sufficient quality food ...
for all the of Venezuelan people."
    
Copyright 2007 Associated Press. All rights reserved. This material may not be
published, broadcast, rewritten, or redistributed.
<< Back



LSE and PLUS quotes are live. NYSE and AMEX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions :: Contact Us :: Request an Exchange :: Affiliate Scheme
Copyright1999-2008 ADVFN PLC. Copyright and limited reproduction :: Privacy Policy :: Investment Warning :: Advertise with us :: Data accreditations :: Investor Relations :: Press office :: Jobs
ADDITIONAL SERVICES AVAILABLE FROM ADVFN
Upgrade - Click here for more information on ADVFN premium services Money Words - ADVFN Financial Glossary Investor Training ADVFN Financial Bookshop Online Training Academy
42 site:2us 081008 04:52 Stock Message Boards ( 2001 | 2002 | 2003 | 2004 | 2005 | 2005 | 2007 )