O-I said that it is expecting a "lengthy legal process" concerning the decision by the Venezuelan government to nationalize its operations in the Latin American country. Venezuelan president Hugo Chávez announced plans to take control of the two O-I plants in Los Guayos and Valera at the end of October. In a statement in mid-November, O-I said it had communicated the need for planning and maintenance of supply to continue to serve Venezuela's food and drinks markets but added that the situation was: "Extremely complex and dynamic. We may be facing a lengthy legal process," the company said. "Of course, we cannot predict an outcome, but we will work towards a solution that allows the preservation of the operations. Many issues remain unresolved, including the fair value O-I should receive for these assets."
