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 CARACAS, Venezuela (AP) - President Hugo Chavez said Saturday that Venezuela's largest steel maker, Sidor, will not be allowed to make any more exports until it meets domestic needs, and threatened to expropriate the Argentine-controlled company if it resists.
Chavez has criticized Sidor for selling the bulk of its production overseas and forcing local producers to import from elsewhere, saying Venezuelan industry should be given priority.
Sidor's parent company, Luxembourg-based Ternium SA, is controlled by conglomerate Techint Group of Argentina. Chavez said he has summoned Ternium chairman Paolo Rocca from Buenos Aires for talks.
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