The administration and operation of Monaca, Compañía Anónima Molinos Nacionales, remain in private hands, although pamphlets published and distributed by the Ministry of Communication and Information consider a socialist enterprise. "Monaca, which produces corn flour, was nationalized for the benefit of the people. And as a company invests its surplus socialist to repair homes near the factory, "says one of the ideological comic is distributed in supermarkets and Bicentennial Pdval, and some government offices.
Expropriation enacted in May, has not materialized. The executive vice president, Elias Jaua announced in July that the Mexican group Gruma, owner of the agricultural industry, had proposed creating a joint venture to rule out compulsory acquisition. "There is going to expropriate, Gruma has raised the possibility of a joint venture and we are studying, but is currently under the administration of the Bolivarian government, "said Jaua on 14 July.
One of the approaches of Mexicans was left to the government processing plants precooked corn flour and rice and the rest of the production lines will continue under private management, such as bread wheat area and for domestic consumption. Monaca
Representatives argue that the intention of creating the joint venture was successful, but they are puzzled that the Government has not revoked the decree of expropriation, if the intention is to reach a strategic agreement. Sources
Executive
indicated that for now there will be no decision until the completion of the electoral company in which they are employed several officials, including Vice President Elias Jaua. While
Monaca both products such as flour Juana, are sold in supermarkets Bicentennial (former Each of the French group Casino) with the slogan "Made in socialism," although legally still a private company.
The latest report indicates that production of Monaca month are processed between 18,000 and 20,000 tonnes of maize, 30,000 and 32,000 tons of wheat, about 2,500 tons of paddy rice, 350 tons of oats. The company says that between January and May have been produced over 199,933 tons of food. Intervention
advertising executive since the end of 2009 stated that the company would have to pass state power, because the alleged relationship with the banker Ricardo Fernandez Barrueco, which would have part of the shares.
However, Monaca representatives say that 24.14% of the equity of Barruecos was granted as security in a foreign financial institution which provided the resources to acquire, so that possession never materialized.
Despite the observation, the government of Hugo Chavez continued to insist in intervening agribusiness. It claimed that it complied with the Security Law and Sovereignty and the Law on Access to people to Goods and Services, for allegedly refusing to distribute enough precooked corn flour and started proceedings against him.
"Monaca has maintained its production and commercial operations in the ordinary course of business and provided and provided in a timely manner, customers demand for our products," referred to in a statement.
This will not suffice the Government to issue the decree of expropriation. A negotiating committee was set up in the company and so far expected to close a strategic alliance in which the Executive would have the majority.
Last May the government issued the decree of expropriation and compulsory acquisition of movable and immovable property and bienhechurías of Monaca. This company belongs to a English corporation called Global Securities Ltd., whose involvement Gruma Mexican group has 72.86% stake. He specializes in the processing of wheat flour, corn flour, pasta, rice, oil, oats, seafood, marinade and spices. If realized
Monaca expropriation, the Venezuelan state would control over 45% of the market for precooked. The Government has among its assets with the processing of corn, Proarepa, ProNutra, and Bravo Cacique are companies of social production.
Expropriation enacted in May, has not materialized. The executive vice president, Elias Jaua announced in July that the Mexican group Gruma, owner of the agricultural industry, had proposed creating a joint venture to rule out compulsory acquisition. "There is going to expropriate, Gruma has raised the possibility of a joint venture and we are studying, but is currently under the administration of the Bolivarian government, "said Jaua on 14 July.
One of the approaches of Mexicans was left to the government processing plants precooked corn flour and rice and the rest of the production lines will continue under private management, such as bread wheat area and for domestic consumption. Monaca
Representatives argue that the intention of creating the joint venture was successful, but they are puzzled that the Government has not revoked the decree of expropriation, if the intention is to reach a strategic agreement. Sources
Executive
indicated that for now there will be no decision until the completion of the electoral company in which they are employed several officials, including Vice President Elias Jaua. While
Monaca both products such as flour Juana, are sold in supermarkets Bicentennial (former Each of the French group Casino) with the slogan "Made in socialism," although legally still a private company.
The latest report indicates that production of Monaca month are processed between 18,000 and 20,000 tonnes of maize, 30,000 and 32,000 tons of wheat, about 2,500 tons of paddy rice, 350 tons of oats. The company says that between January and May have been produced over 199,933 tons of food. Intervention
advertising executive since the end of 2009 stated that the company would have to pass state power, because the alleged relationship with the banker Ricardo Fernandez Barrueco, which would have part of the shares.
However, Monaca representatives say that 24.14% of the equity of Barruecos was granted as security in a foreign financial institution which provided the resources to acquire, so that possession never materialized.
Despite the observation, the government of Hugo Chavez continued to insist in intervening agribusiness. It claimed that it complied with the Security Law and Sovereignty and the Law on Access to people to Goods and Services, for allegedly refusing to distribute enough precooked corn flour and started proceedings against him.
"Monaca has maintained its production and commercial operations in the ordinary course of business and provided and provided in a timely manner, customers demand for our products," referred to in a statement.
This will not suffice the Government to issue the decree of expropriation. A negotiating committee was set up in the company and so far expected to close a strategic alliance in which the Executive would have the majority.
Last May the government issued the decree of expropriation and compulsory acquisition of movable and immovable property and bienhechurías of Monaca. This company belongs to a English corporation called Global Securities Ltd., whose involvement Gruma Mexican group has 72.86% stake. He specializes in the processing of wheat flour, corn flour, pasta, rice, oil, oats, seafood, marinade and spices. If realized
Monaca expropriation, the Venezuelan state would control over 45% of the market for precooked. The Government has among its assets with the processing of corn, Proarepa, ProNutra, and Bravo Cacique are companies of social production.
El Nacional, August 25, 2010. Strategy.
