Originally posted by the Voice of America.
Voice of America content is produced by the Voice of America,
a United States federal government-sponsored entity, and is in
the public domain.


Venezuela Nationalizes Metal Companies

   VOA News 16 May 2010
   Venezuelaâs  President  Hugo  Chavez speaks during a signing agreement
   ceremony in Caracas, 12 May 2010

Photo: AP

   Venezuelaâs  President  Hugo  Chavez speaks during a signing agreement
   ceremony in Caracas, 12 May 2010

   Venezuelan  President  Hugo  Chavez says his government is taking over
   several metal companies.

   He  announced Saturday Venezuela will nationalize businesses including
   Matesi, which produces iron briquettes, and aluminum-maker Norpro.

   Venezuela  began  to take over Matesi from its Luxembourg-based parent
   company Tenaris last year. Mr. Chavez says he is moving to nationalize
   Matesi after settlement talks failed.

   There  was  no  immediate comment from Tenaris or any of the companies
   listed for nationalization.

   In  recent  years,  Mr. Chavez has nationalized firms in many sectors,
   including   petroleum,   communications,   electricity,   banking  and
   agriculture.

   Â

   Some information for this report was provided by AP and Reuters.

.