(Reuters) - Kimberly-Clark Corp is planning a 234 million bolivar ($37.1) investment to expand operations in Venezuela in a move that should help ease a national shortage of toilet paper.
President Nicolas Maduro's government, which began in April, is facing a scarcity of some food items, medicines and basic bathroom products.
The government blames private businesses. Critics say the shortages, high inflation, and slowing growth are the result of nationalizations and other socialist economics under Maduro's predecessor Hugo Chavez.
Officials say the problems are easing, though Venezuelans still complain they cannot find many items, and queues at supermarkets are a common scene across the nation.
"When the shortages occurred, the productive sector, together with the government, designed a strategy to combat it. Now things are fine," Trade Minister Alejandro Fleming said after a meeting with representatives of the U.S. company.
Kimberly-Clark has a 15 percent market share for toilet paper and also makes other products such as sanitary towels and diapers.
The general manager of its local subsidiary, David Cahen, said "Kimberly-Clark will invest 234 million bolivar over 6 to 24 months. This investment will increase the company's local capacity by 30 to 40 percent."
adapted from Reuters
And how about asking questions so as to get the following answers?
1. a 234 million bolivar ($37.1) investment
2. to expand operations in Venezuela
3. because there is a national shortage of toilet paper.
4. in April
5. a scarcity of some food items, medicines and basic bathroom products.
6. under Maduro's predecessor Hugo Chavez.
7. because they cannot find many items and queues at supermarkets are a common scene across the nation.
8. after a meeting with representatives of the U.S. company.
9. by 30 to 40 percent
10. I don't think so
