Venezuela's President kept people in suspense during at least two hours of his weekly radio and TV show "Hello, President!," as he said that he would announce a new takeover. Hugo Chávez suggested that he would seize cocoa processing companies if they did not join "a strategic agreement with the State." Chávez recommended Lorenzo Mendoza, the president of food giant manufacturer and supplier Empresas Polar, to stay calm because "for now" he has no intentions to take any action against his companies. Finally, a few minutes before 5 p.m., President Chávez announced the expropriation of the country's largest privately owned steelmaker Siderúrgica del Turbio (Sidetur).

"This is the steel division of (Venezuelan steel producer) Sivensa (Siderúrgica Venezolana), which manufactures steel products for the construction industry. Sidetur produces 40 percent of rebars in the domestic market," said Chávez reading the decree and then he said: "They sell very expensive (products)."

Sidetur has six plants and 15 scrap recycling centers, located in the cities of Caracas, Guarenas, Valencia, Barquisimeto and Puerto Ordaz. "All those properties will go to people's hands," Chávez said.

"(Lorenzo) Mendoza, I hope that your workers do not try to stop this (the expropriation.). The National Guard must mobilize immediately, without stifling anybody. They just have to enforce my orders." Chávez also mentioned the support that workers of Empresas Polar gave to their colleagues of the Venezuelan unit of US bottle manufacturer Owens Illinois. He threatened the food and beverage giant. "If Polar goes on strike, Chávez will not be overthrown but maybe Mendoza (Polar's CEO) could be toppled." He advised the Venezuelan businessman to follow the example of the President of the Cisneros Group, who "decided not to mess with me ... Mendoza do not let yourself be swayed by other crazy people."

At the beginning of his Sunday TV and radio program, Chávez said: "I invite everyone to help us to become again an important cocoa producer," but a few minutes later he said: "We will sign a decree. We do not need a law to declare cocoa a strategic product, all lands able to grow cocoa, the public and private productive sectors. I want you (Vice President Elías Jaua) to call the private sector, to establish a strategic agreement. If they do no want it, that will be it," he said.

The Venezuelan President also announced the expropriation of six housing developments "in order to complete their construction and award the apartments ... and set penalties amounting to 5,000 tax units."

Translated by Gerardo Cárdenas