Daewoo may withdraw from Poland
The Korean government said that Daewoo might withdraw from Poland if General Motors (GM) does not purchase the ailing Korean giant's Polish investments. The Warsaw-based Daewoo-FSO said, however, that the future of the company will rather be decided by the Polish government, the Daewoo-FSO's Korean parent company, and Development Bank (BR). It also pointed out that Daewoo was obliged to invest USD 1.2bn in modernisation of the FSO plant until the end of 2002, while so far it had invested just USD 700mn and it is unlikely that further investments will come unless a new strategic investor is found. The Polish authorities said that rescue might come from the possible entrance of Korean Hyundai into FSO. According to Economy Minister Janusz Steinhoff, it would be a good beachhead for the company expanding its production in the European Union. bb, kp
Źródło:IntelliNews Daily
