CARACAS, Venezuela (AP) -- U.S.-based glass container manufacturer Owens-Illinois Inc. said Wednesday it is seeking international arbitration in a dispute with Venezuela over the expropriation of two factories in the South American nation.
President Hugo Chavez ordered the nationalization of the company's Venezuelan subsidiary last October.
The arbitration case was filed earlier this month before the International Centre for Settlement of Investment Disputes, a World Bank-affiliated arbitration body. The case was posted on its website Wednesday.
"Having been unable to reach an agreement with the Venezuelan government regarding fair compensation for two expropriated plants, O-I's Dutch subsidiary, OI European Group BV, has elected to seek compensation," company spokeswoman Stephanie Johnston said in an emailed statement.
The subsidiary made the claim under an investment treaty between the Netherlands and Venezuela, Johnston said. She said the company would not discuss how much it is seeking in compensation.
Venezuela's government did not respond to a request for comment about the case.
Owens-Illinois, which is based in Perrysburg, Ohio, has operations in 21 countries. At the time the two Venezuelan plants were expropriated, the company said they employed more than 1,000 people and produced glass containers for companies such as Nestle SA and PepsiCo Inc.
Chavez has nationalized or expropriated a wide range of companies, including cement makers, retail stores and a steel maker, while calling for a socialist system in Venezuela.
