The Venezuelan government has temporary moved into Smurfit Kappa Carton de Venezuela (SKCV), the Irish packaging firm’s subsidiary in the country.
Smurfit Kappa said it is part of a nationwide programme of inspections and audits at locally and internationally owned companies, conducted by government ministries and agencies.
Minister Ricardo Menendez said Smurfit Kappa had hiked prices for some food-related products by 372% in the last year, according to a broadcast on state TV from the plant .
The intervention allows for inspections and audits covering tax, costs, pricing and employment practices.
“SKCV retains management of the company and is co-operating fully with the government officials,” said the firm in a statement.
“SKCV is committed to operating its business to ensure the on-going supply of products and services to its customers.”