CARACAS, Venezuela (AP) -- Venezuelan President Hugo Chavez says his government will expropriate a small auto parts company and turn over its management to workers.
Chavez said Tuesday night that AutoSeat de Venezuela, which has been closed since last year, will be expropriated.
The auto assembly industry in Venezuela has been troubled in recent years due to labor conflicts and delays in government approval for dollars to pay for imported parts.
The company closed the two plants it had in the town of Guacara and Los Guayos last year. There was no immediate reaction from the company's owners.
The socialist president has in the past three years nationalized companies in industries from telecommunications to cement.