ANNOUNCEMENT 26 Sep 2014In September 2014, the government of Venezuela announced altered domestic business conditions for foreign investors.
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Gaceta Oficial (2014) Vicepresidente Arreaza inspeccion? planta Clorox Venezuela en Guacara. http://www.vtv.gob.ve/articulos/2014/10/08/vicepresidente-arreaza-inspecciono-planta-clorox-venezuela-en-guacara-5009.html.
On 26 September 2014, the government of Venezuela announced the expropriation of Colorox Venezuela. Prior to the expropriation, Colorox Venezuela was under the ownership and management of The Colorox Company, an American multinational manufacturer and marketer of consumer and professional products.
Venezuelan government officials stated that the decision to expropriate Colorox Venezuela, was primarily based on the fact that this company was alleged for subjecting their workers to an illegal lockout.