Tuesday, September 27, 2005

Venezuela Barinas Governor Chavez Seizes Polar Food Plant

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 Venezuela Barinas Governor Chavez Seizes Polar Food Plant

Sept. 26 (Bloomberg) -- Venezuela seized a food processing plant owned by Empresas Polar SA in Barinas state with an executive order issued by the state's governor, the father of President Hugo Chavez.

Governor Hugo de Los Reyes Chavez said the government seized the plant, which processes flour and oils and has corn silos, because Polar, the country's largest food maker, underutilized it.

``We're carrying out the responsibility of the regional government,'' Governor Chavez said in an interview with the state television station. ``We're going to accelerate this process.''

The federal government had seized the plant weeks earlier. Last week, Polar and the federal government said they had reached an agreement to allow Polar to reopen the plant.

To contact the reporter on this story: Alex Kennedy in Caracas at  Akennedy1@bloomberg.net 


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