Pirelli Becomes Latest Foreign Brand to Give up on Venezuela
Italian tire manufacturer Pirelli is suspending production in Venezuela, the latest foreign brand to give up on the crisis-wracked country.
Pirelli's local affiliate said in a statement Tuesday that imported supplies at its factory in Valencia are due to run out June 16. Production in recent years had already fallen to a third of the plant's capacity of 6,000 tires a day. The company employs about 1,000 people in Venezuela.
The company is the latest battered by crippling shortages now compounded by almost-daily protests against President Nicolas Maduro.
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