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Industry: Email Alert RSS FeedDaewoo-FSO suppliers fight to live.(News)
Automotive News Europe, August, 2003
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Suppliers of the ailing Polish carmaker Daewoo-FSO are battling for survival.
Daewoo-FSO, once Poland's largest foreign investment, is the center of a prolonged crisis. The Warsaw carmaker - created as a combination of Poland's local FSO and South Korea's Daewoo - was hit in 2002 when Daewoo declared bankruptcy. It got worse when General Motors took control of many assets of Daewoo, but not Daewoo-FSO.
The Polish government has negotiated with Britain's MG Rover and - by some reports - with Hyundai to save the 3,200 jobs at Daewoo-FSO.
Local suppliers say their plight is ...
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