[news] Venezuela Nationalizes Venepal Paper Factory

[Resist!ca]

CARACAS, 20 January, 2005--"Venezuela's largest paper plant Venepal was nationalized yesterday, after battling bankruptcy for the past two years. The troubled company stopped production in September, 2004 threatening to sell off the plant's machinery to pay off creditors. Workers at the plant who had not been paid since September, organized a national campaign to encourage the expropriation of the factory, which culminated in yesterday's official announcement. According to [The Secretary-General of Venepal's union, Edgar] Peña, Venepal workers prepared a detailed report on the viability of worker's control at Venepal for the National Assembly.  Peña identified the report as instrumental in precipitating the National Assembly's decision."

URL: http://resist.ca/story/2005/1/20/181057/424