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Blackouts to cost firms $320 million

Posted On: Apr. 15, 2019 6:17 AM CST

Night view of Caracas, Venezuela, during March 2019 power outage

A series of power outages in Venezuela since March have disrupted factory operations and are likely to cost companies about $320 million, Reuters reported. Venezuelan industry group Conindustria said that companies are operating below 25% of capacity this year. Swiss food giant Nestle S.A. halted production twice during the blackout in early March and plans to resume production in May.

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