Venezuela nationalizes steel firm
Published by Hossam el-Hamalawy May 13th, 2008 in Activism, Labor عمال, Latin America, Left يسار, VenezuelaFrom the BBC…
President Hugo Chavez has signed a decree to nationalise Venezuela’s biggest steelmaker, Ternium-Sidor. Argentina’s Techint, which owns 60% of it, has been given until the end of June to hand it over.
In the past two years the Venezuelan state has taken over foreign-controlled companies including cement, telecoms, oil, gas and electricity firms.
President Chavez threatened to nationalise the steelmaker after trade union talks broke down last month.
The workers wanted better pay and benefits.
I don’t see Mubarak doing the same to Ahmad Ezz anytime soon, eih?
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I read a very fine article about the nationalisation here: http://www.marxist.com/chavez-renationalises-sidor.htm
A nationalisation like this shows the way forward for Egyptian workers too.