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The Straight Story Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Oct-31-10 06:37 PM
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Venezuela's Chavez nationalizes local steel company
Venezuela's Chavez nationalizes local steel company


CARACAS | Sun Oct 31, 2010 6:58pm EDT

CARACAS (Reuters) - Venezuela's President Hugo Chavez ordered the nationalization of local steel company Sidetur on Sunday in the latest of a several recent government takeovers in South America's top oil producer.

Sidetur, a subsidiary of local steel company Sivensa, produces mainly rebar, bar, beam, angle and flat products. According to its website (www.sidetur.com.ve), it has six plants in Venezuela, an annual production capacity of more than 835,000 tonnes and exports products to 25 countries.

"I am going to say the words that (the opposition) like: expropriate it," the socialist former soldier said during his regular Sunday television broadcast.

http://www.reuters.com/article/idUSTRE69U2D120101031
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RUMMYisFROSTED Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Oct-31-10 06:38 PM
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1. Chavez?
:scared:
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Radical Activist Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Oct-31-10 06:43 PM
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2. Good for him.
I'd rather see him make it directly worker owned and controlled rather than a state-company. But this is OK.
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devilgrrl Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Oct-31-10 06:55 PM
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3. What an evil f***!
:popcorn:
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