Clorox says Venezuelan seizure of shuttered facilities puts workers and residents at risk

Markets Associated Press

Clorox says Venezuela's decision to seize the company's shuttered facilities near Caracas may pose safety risks for workers and nearby residents.

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The Oakland, California-based Clorox Co. closed its production facilities this week saying that government-imposed price freezes and the soaring costs of materials and operation had made it impossible to earn a profit.

Venezuelan authorities claim Clorox has illegally abandoned the country. It responded Friday night by seizing the Clorox factory in a move it said would save some 800 jobs.

Clorox, however, says the production of cleaning products such as bleach is a highly specialized process. It says that in light of the government's takeover, the company and its affiliates cannot be responsible the safety of workers of surrounding communities.