BLUESTAR CLEANING UP BARRIERS TO BUY SSANGYONG
AsiaInfo Services, February, 2004
AsiaInfo Services 02-17-2004 Bluestar Cleaning up Barriers to Buy Ssangyong SOUTH KOREA, Feb 17, 2004 (SinoCast via COMTEX) -- On February 13, 2004 (South Korea's time), a delegation from China National Bluestar(Group) Corporation (Bluestar), a chemical giant in Mainland China, made a visit to a plant of Ssangyong Motor Company (Ssangyong), the fourth-largest carmaker in South Korea.
Chohung Bank, a credit bank of Ssangyong, believes that the move means that Ssangyong's labor union has given up its strongrequirements that it does not allow to sell Ssangyong to Bluestar. The labor union, Ssangyong's executives, and creditors have reached a consensus that they will hold a meeting, discussing the deal. According to the initial plan, as a preferential buyer,...
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