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News > Latin America

Colombian Superintendency Claims Control of Venezuelan Company

  • Monomeros petrochemical company.

    Monomeros petrochemical company. | Photo: Twitter/ @circuitoplay

Published 7 September 2021

“Monomeros belongs to Venezuela. Any action taken by Ivan Duque can only be classified as theft,” the National Assembly President said.

On Tuesday, Venezuela’s National Assembly President Jorge Rodriguez described as a “robbery” what the Colombian Superintendency of Companies (SSC) did on Sept. 3 when it decided to take control of Monomeros, a Venezuelan petrochemical company that has agricultural input manufacturing plants in Colombia.


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“Monomeros belongs to Venezuela. Any action taken by Ivan Duque can only be classified as theft,” Rodriguez said regarding a Bolivarian company whose large operating income placed it among the 200 most important companies in Colombia in 2020.

In recent days, while the dialogues between the Venezuelan government and the opposition were taking place in Mexico, President Nicolas Maduro warned about the implications that arbitrary actions against Monomeros could generate in the Venezuelan agricultural production.

"Monomeros must return to their owners, to their parent company, so that all products come to Venezuela to contribute to the country's economic and comprehensive recovery," he said.

Last week, however, Colombian lawmaker and businessman Cesar Lorduy urged the Duque administration not to lose control of the Venezuelan company because "in no case can Colombia allow the company to change its shareholders."

"In Barranquilla and Buenaventura, Monomeros produces half of the fertilizers used in Colombia to grow food. Four out of 10 kilos of food consumed by Colombians depend on this company," El Colombiano recalled.

Local outlets reported that the SSC gave itself broad powers to intervene in Monomeros' legal, accounting, economic, or administrative situation. "The control that the Superintendency may exercise is broad... for example, it may authorize the placement of shares," Semana magazine pointed out.

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