Venezuela to Form Joint Ventures With Mexico’s Gruma SAB
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Venezuela reached an agreement with Gruma SAB, Mexico’s largest producer of corn flour, to work together in the South American country after Venezuelan President Hugo Chavez seized one of its local units last year.
Chavez’s government and Gruma will form two joint ventures to produce corn flour, rice, pasta and oatmeal, according to a statement published on the Mexican Presidency’s website. The agreement was made during a meeting in Caracas between Mexico’s President Felipe Calderon and Chavez.