Venezuela. The vehicle manufacturer General Motors (GM) announced that it is possible to close its automotive assembly plant by July of this year, due to the difficulties that exist in the exchange control of the currency.
This means that the paints and coatings sector would be affected by the situation, especially in the commercialization of automotive paints, in addition to applicators and other professionals in the sector who would lose their jobs, in a company that employs more than 3,000 people.
"With no ability to raise dollars anytime soon, which we believe will be implausible, current vehicle production will likely cease in July 2015," General Motors said in a report filed last week with the U.S. Securities and Exchange Commission.
However, the closure has not been definitively decided, "We continue to work with the Government of Venezuela to find solutions to convert the currency," said Tom Henderson, representative of the multinational company.
In the past month, GM has laid off 446 workers and the local unit of Ford Motor Co, which has not operated for two weeks, is considering laying off 267 employees, a union official told Reuters news agency this week.
