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

Boxes of Kellogg corn flakes in a shop in Caracas Venezuela

Boxes of Kellogg corn flakes in a shop in Caracas Venezuela

Maduro also insisted that the factory has now been handed to the workers.

Venezuela on Wednesday reactivated a Kellogg plant under work control, a day after the cereal maker joined an exodus of USA companies from the crisis-wracked country.

Opposition critics scoffed that the government would quickly plunder the Kellogg plant and ruin its business.

Kellogg joined a host of other multinationals in exiting Venezuela and later confirmed President Nicolas Maduro's leftist government had taken over its manufacturing plant.

President Maduro, who has been in office since 2013, blames Venezuela's problems on an "economic war" being waged by foreign governments and businesses.

Kellogg announced its retreat earlier on Tuesday, making it the latest multinational to exit the oil-rich country, which is heaving under hyperinflation and strict price controls.

Kellogg has been producing cereal in Venezuela since 1961 and, according to The Associated Press, "the market had at one point been its biggest in Latin America after Mexico, although in 2016 it deconsolidated its Venezuela business from the company's overall earnings results".

The United States based cereal maker Kellogg is pulling out of Venezuela because of the economic deterioration in the country.

Socialist Maduro has taken over the factories of some companies that have left the country.

Kellogg's products, from Zucaritas - sweet corn flakes - and Nutri-Grain bars, were commonly found on Venezuelans' breakfast tables and pantries.

"Kellogg is not responsible for the unauthorised use of the commercial names and brands that are the property of the company and will exercise legal actions available as necessary", the company said, adding it would like to return to Venezuela in the future.

Latest News