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Colgate-Palmolive riots flare in Nepal
New York City News.Net
Thursday 20th November, 2008
There has been a massive upheaval at the factory of Colgate Palmolive in Nepal, with the company announcing the sale of the company after 20 years of operations.
The sale announcement said that all employees of the Nepal subsidiary would continue their employment on the existing terms and conditions.
But, after the announcement the company would be sold to Nepali company Everest Hygiene Products, angry workers seized the subsidiary's general manager Ramesh Singh Rathore.
The mob handed him over to police, alleging that the company had not informed them of the sale.
The incident has come at a time that Nepal's government has admitted that foreign investors were shying away from fresh investment in Nepal due to the lack of security.
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