Workers re-opening Kellogg factory closed by company in crisis-hit Venezuela

Russia’s Evrofinance Mosnarbank is Keeping Close Tabs on Venezuela’s Petro					            JP Buntinx

Cereal maker Kellogg Co on Tuesday pulled out of Venezuela due to the country's deep economic crisis, and an angry President Nicolas Maduro said its units would be taken over and given to workers.

"I've chose to hand the company over to the workers so that they can continue producing for the people", Maduro said at a campaign rally ahead of Sunday's presidential election.

Some 300 workers employed at the plant showed up to work to find a notice informing them of the closure.

"What did the revolutionary government do?"

Maduro, who is seeking re-election for a second term on Sunday, railed against Kellogg at a campaign rally. Because Venezuela is having a presidential election on May 20, he explained, "tonight, we thought we'd check in on what's been happening there, to try and understand how Venezuela got into this mess and how, despite making it even worse, their current president, Nicolas Maduro.is nearly certainly going to win, despite having the support of only about a fifth of the population".

It follows similar moves by General Mills, Kimberley-Clark and Havest Natural Resources, among others.

Some, such as Coca-Cola and Colgate, have temporarily suspended or cut back their operations. Maduro blames Venezuela's crisis on an "economic war" that he says is being waged by Washington, greedy businessmen and coup-mongers.

Speaking to the Associated Press, the two Russians who reportedly signed agreements with Maduro the help the Petro expand globally distanced themselves from the cryptocurrency with one, Fedor Bogorodskiy, claiming his company immediately ceased working with the project as soon as Trump announced his ban. In 2014, authorities took over two plants belonging to US cleaning products maker Clorox Co after its departure.

"It means, Corn Flakes is over", opposition lawmaker Jose Guerra tweeted about Kellogg. "It was paralyzed due to lack of raw materials, the government took it and today it is paralyzed".

In children's breakfast cereals, it ranked first with a 60% value share, with Kellogg's Zucaritas commanding a 31% value share and Kellogg's Froot Loops and Kellogg's Choco Krispies controlling a combined 30% share.

Each evening at 1830 UTC, DW's editors send out a selection of the day's hard news and quality feature journalism.

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