DETROIT—General Motors has stopped doing business in Venezuela after authorities took control of its only factory there in what GM called an illegal judicial seizure of its assets. Kimberly-Clark joined Bridgestone, General Mills, Procter & Gamble, Ford Motor Co. and other multinational corporations in scaling back operations in Venezuela . GM has about 2,700 workers in the troubled country, where it’s been the market leader for over 35 years. It also has 79 dealers that employ 3,900 people, and its parts suppliers make up more than half of Venezuela’s auto parts market, the company said. South American operations, which include Venezuela, account for a relatively small portion of GM’s earnings and sales.

Source: thestar April 20, 2017 12:12 UTC