Nduom Proposes Economic Stimulus for Ghana Apr 4, 2009
Goldstar, Hyundai, Samsung and Daewoo all Korean brand names well-known in Ghana were nurtured and promoted with low-interest government loans, tax incentives and export/import facilities. The question is where are the Ghanaian brand names. (Ghana Web, Ghana)
How GM Built Factories in Uzbekistan While Closing Them in Detroit Apr 3, 2009
Recent moves: On March 26 of this year, UZ-Daewoo, a venture partly owned by GM through its Korean subsidiary Daewoo, announced a plan to open a new car plant in Tashkent, the capital of Uzbekistan, to produce 15,000 Chevrolets per year and create 1,200 jobs ... Along with local partner Uzavtosanoat, GM has been producing Chevrolet and Daewoo models in Uzbekistan for sale domestically and throughout Central Asia since 2007. (Slate)
GM Chief Rick Wagoner Said to Step Down as Automaker Awaits Bailout News Mar 30, 2009
He used the purchase of South Koreas Daewoo Motor Co. to expand GMs overseas sales 51 percent to 5. 5 million cars and trucks by 2007. (Bloomberg)
SA's five cheapest cars Mar 25, 2009
By simply slapping a Chevrolet bowtie on the grille and a new name on the back, GM transforms the Daewoo Matiz from South Korean wannabe to true-blue American legend. Well, superficially at least. (iAfrica.com)
'People's car' Nano to go on sale in India Mar 23, 2009
Meanwhile, Tata Sons, parent of Tata Motors, is weighed down by debt from a buying spree this decade, including Tetley Tea for $407 million in 2000, Daewoo Commercial Vehicle for $102 million in 2004, Corus Steel for $12 billion in 2007 and Jaguar/Land Rover for $2. 3 billion last year. (USA Today -- Autos)
Corporations in Burma Mar 23, 2009
Companies Operating in Myanmar Profit at the Expense of the People. Despite being ruled by a ruthless military dictatorship, Burma is a country that still manages to attract foreign investment and multinational corporations. (Suite101.com)
Kumasi Boils - Daily Guide Mar 10, 2009
The 30-year-old Cedi, it would be recalled, was on Thursday remanded by a Kumasi Circuit Court for attacking and completely burning a Daewoo Lenox saloon car belonging to one Frank Appiah aka Appiah Stadium a popular serial caller of the NPP.. The suspect who was hauled to the court on two counts of arson and robbery pleaded not guilty to the charges and is to reappear on March 19 this year. (Ghana Web, Ghana)
CHAT TRANSCRIPT: Healey answers your car questions Feb 28, 2009
So, theoretically, GM's actions re: Saturn and Opel suggest less likelihood of Euro designs in the U.S. You'll note that even though GM has praised Opel as the company's small-car expert, it went to its Korean unit (Daewoo) to get the U.S. market Chevy Aveo. Ford's planning to start bringing Euro-based models here the next year or two. (USA Today -- Money)
GM Aims to Raise $6 Billion From 5 Foreign Govts Feb 19, 2009
Similarly, a South Korean government official Wednesday reaffirmed the government's stance earlier this month when it rejected a request for financial aid from GM Daewoo Auto & Technology Co., the South Korean unit of General Motors Corp.. GM didn't provide details on whether non-U.S. funding is contingent on backing from the Obama administration, or whether part of it would be garnered on a secured basis. (SmartMoney)
Chevrolet shows some Spark Feb 12, 2009
The brand's current small car is the Aveo, but that model is licensed from Daewoo ... The Spark is not home-grown, it is also from GM Daewoo and will be released in Korea this year. (CNET News)
South Korea turns down GM funding plea Feb 12, 2009
GM Daewoo Auto & Technology Co. president Michael Grimaldi and other company executives made the request during a meeting Wednesday with the head of the country's commerce ministry, said GM Daewoo spokeswoman Lim Young-mi ... Lim said GM Daewoo South Korea's third-largest automaker wants funding to help with development of new vehicle models but doesn't need government money for its daily operations ... Oh Ji-won, a spokeswoman for the Ministry for Knowledge Economy, confirmed the meeting took... (International Herald Tribune -- Sports)
Auto industry workers face hard choices Mar 31, 2008
It took him months to land a job, but hes now working for Daewoo International as a warehouse supervisor ... Rose says hes close to getting hired outright by Daewoo and expects his salary will go up ... But he is also pondering a total exit from the auto industry and seriously considering going back to school at night to become a nurse, especially if he doesnt get a heftier paycheck from Daewoo. (MSNBC -- Business)
Cell phones in Cuba: Revolutionary? Mar 31, 2008
And in December, the government distributed about 3,000 microwaves made by South Korea's Daewoo Electronics. Local authorities say the pilot program, in a town outside Havana, could lead to a nationwide offering of microwaves on long-term credit. (MSNBC -- International)
U.S. automakers reduce options to cut costs Mar 30, 2008
The next GM vehicles to be built with the global structure will be small cars from its Korean affiliate Daewoo, Lauckner said. Japanese automakers are widely seen as leading the way in cutting costs by sharing unseen parts across vehicle lines and reducing complexity. (International Herald Tribune -- Business)
U.S. car companies go back to black Mar 30, 2008
The next GM vehicles to be built with the global structure will be small cars from the automaker's Korean affiliate Daewoo, Lauckner said. Japanese automakers are widely seen as leading the way in cutting costs by sharing unseen parts across vehicle lines and reducing complexity. (International Herald Tribune)
Tata-JLR deal boost for India: Experts Mar 30, 2008
It's other purchases include Britain's Tetley Tea, Boston's Ritz Carlton Hotel, Eight O'Clock Coffee, Glaceau flavored waters and South Korea's Daewoo Commercial Vehicle Co.. Other corporations looking overseas include the Aditya Birla Group, which has bought companies in cement, metals, telecommunication and textiles. (India Times, India -- Intl Business)
The Problem With Ghana Mar 29, 2008
General PAk , the south Korea dictator with limited schooling ,left Korea Daewoo company. They are into shipping building, automobiles, construction big time, that is what good ideas do. (Ghana Web, Ghana)
GM's new president takes the latest in a series of crucial positions at the automaker Mar 28, 2008
During his tenure in Asia, GM ramped up its expansion in China and bought a controlling interest in Korean automaker Daewoo, which has since become a valuable source of small cars for sale in other markets. 1. (International Herald Tribune -- Business)
* Ford to sell Jaguar, Land Rover to Tata Mar 27, 2008
The Tata Motors division signed agreements in 2003 to buy the Daewoo Commercial Vehicle Co for US$102 million, its first overseas acquisition. This story has been viewed 261 times. (Taipei Times, Taiwan -- World)
Cuba changes, one microwave at a time Mar 27, 2008
"There were some rich people in Havana who had a microwave, but the rest of us didn't dream of one," said the great-grandmother who uses the new Daewoo DC to prepare flan and defrost chicken ... Metallic white and barely big enough to hold a loaf of sandwich bread, the Daewoos don't look like the key to Cuba's future ... Government-run electronics stores offer slightly larger Daewoo ovens to foreigners and companies for about $175 each. (MSNBC -- International)
Ford deal will strengthen Tata balance sheet Mar 27, 2008
Tata Motors bought the commercial vehicle unit of South Korea's Daewoo Group for $102-million in 2004. Tata Group comprises 98 companies in sectors including steel, salt, software, energy, cars and trucks, communication and chemicals. (Globe and Mail -- Business)
Ford says Tata to Jaguar Mar 26, 2008
Welcome to The Sydney Morning Herald. Skip directly to: Search Box, , , Text Version. (Sydney Morning Herald -- Business)
Tata: a growing global giant Mar 26, 2008
Tata Motors also owns the commercial vehicle operations of South Korea's Daewoo, an acquisition that has cemented its dominant role in the Indian market for heavy commercial vehicle, where it has an imposing 65% market share. And it is also involved in joint ventures with busmakers in Spain and Brazil. (BBC News -- Business)
General Motors eyes 10% mkt share in India by 2010 Mar 20, 2008
He is the also the president for the Asia Pacific region from July 2006 and also heads the GM Daewoo Auto and Technology Company (GMDAT). Speaking to Automania Mr Reilly outlines the broad contours of India plans and the aggressive strategy to garner a 10% market share in the domestic market by 2010. (India Times)
THE OUTSIDER: The lies we tell ourselves Mar 19, 2008
This was after some students had built a car with the body of a VW Beetle and the engine of a Daewoo Tico. Shortly after Prof. (Ghana Web, Ghana)
As The World Turns (Faster) Mar 5, 2008
One big winner is GM's Korean Daewoo, which sells in Europe under the Chevrolet nameplate and achieved 200,000 sales there last year, more than in Korea ... Daewoo, which GM controls, had fewer than 100,000 sales in the Korean market but is becoming a significant force in export markets ... Last year in the U.S. market, for example, Chevrolet sold 67,000 small Daewoo cars, called the Aveo. (Forbes)
Indian business empire eyes global role Feb 23, 2008
Takeovers include the truck unit of South Korea's Daewoo Motors, Singapore's Natsteel and Thailand's Millennium Steel. The Indian giant is also snapping up mining rights in Africa and Asia. (Anchorage Daily News)
GM bets on global diversity, at least in name Feb 3, 2008
And many of them are built by GM DAT, a South Korea-based business that GM took over when it bought control of Daewoo Motor in 2001. Browning declined to say how much General Motors was spending on marketing in Europe. (International Herald Tribune -- Business)
Asian markets climb; gold at record high Jan 29, 2008
"Expectations for further rate cuts are lifting markets, but whether the market could sustain the gains, it's up to a series of U.S. economic data due soon," said Lee Kyung Soo, an analyst at Daewoo Securities. "Markets look likely to extend a roller-coaster ride, at least in the first half" of 2008, Lee said, "when more dismal news about the U.S. economy is expected to be released.". (International Herald Tribune)
Detroit's Emerging Markets Jan 10, 2008
GM in particular has ramped up in recent years, including a 2001 purchase of 12 overseas factories from Daewoo Motors that gave it plants in India and Egypt, among other locations. The company gets more than half its sales and output outside the U.S.. (Forbes -- Business)
Ratan Tata: genius who is India's gift to world Jan 9, 2008
Since then Tata has done dozens of deals, buying businesses as diverse as the Tyco Global Network, Daewoo Commercial Vehicles, the Moroccan chemical company Imacid, Tetley Teas and, most audaciously, the $US11. 3 billion ($12. (Sydney Morning Herald -- Business)
Tata Motors of India is leader to buy Jaguar and Land Rover Jan 4, 2008
Since then, Tata has made dozens of deals, buying businesses as diverse as Tyco Global Network, Daewoo Commercial Vehicles, the Moroccan chemical company Imacid, Tetley Teas and most audaciously, the British steel maker Corus in a 6. 2 billion takeover last year of a company several times the size of Tata Steel. (International Herald Tribune)
Man of the year? It's Ratan Tata Dec 30, 2007
The quiet understated powerhouse now includes the world's second largest tea business (Tata Tea); Asia's largest software firm (Tata Consultancy Services); the world's fifth largest steel giant (Tata Steel); a plush worldwide hotel chain (Indian Hotels); the world's fifth largest truck maker (Tata Motors) and an automobile manufacturing spectrum that spans everything from a bicycle factory in Zambia, a $2,500 cheap car, South Korea's Daewoo commercial vehicle, to soon $50,000 luxury Jaguar... (India Times, India -- Community News)
Exports 'crucial' to Holden's future Dec 18, 2007
Next year it would add the Daewoo brand, with the start of exports to South Korea. Sales of the Pontiac G8 will start in the first quarter of 2008. (Sydney Morning Herald)
GM's South Korea unit forecasts 2007 sales 20 percent higher than last year Dec 18, 2007
GM Daewoo Auto & Technology Co., the South Korean unit of General Motors Corp., will likely sell 1 ... GM Daewoo was South Korea's third-largest automaker in 2006, behind Hyundai Motor Co. and Kia Motors Corp. ... In the second quarter, GM Daewoo will resume production for the local market of its Damas and Lago mini cars powered by liquefied petroleum gas, or LPG after satisfying the country's new emission standards. (International Herald Tribune)
Videocon revives plan to buy Daewoo Elec Dec 18, 2007
Videocon Industries Ltd, Indias largest maker of televisions, revived plans to acquire Daewoo Electronics Corp, aiming to expand its product line to include the South Korean companys washing machines and refrigerators ... Daewoo creditors earlier this year rejected a 700 billion won ($750 million) offer from Videocon and RHJ. Daewoo, the countrys third-largest electronics maker, has cut jobs and sold its car audio and navigation business ahead of the sale. (India Times, India -- Intl Business)
MGM Mirage seeks further projects Dec 18, 2007
Videocon Industries, the largest maker of televisions in India, revived plans to acquire Daewoo Electronics, aiming to expand its product line to include the South Korean company's washing machines and refrigerators. . (International Herald Tribune -- Business Asia)
Universal Studios to build theme park in Korea Nov 28, 2007
Paramount and Daewoo Motors Sales plan to open a $1 billion theme park in the western city of Incheon, Daewoo said in May. Universal aims to attract 10 million visitors a year to the Korean park, according to the government statement. (International Herald Tribune -- Business Asia)
U.S. retail sales spur rise Nov 27, 2007
Daewoo Shipbuilding & Marine Engineering, the world's third-biggest builder of ships, surged 15 percent to 44,250 won in Seoul. GS will make a bid for Daewoo Shipbuilding, Korea Economic Daily reported, citing GS's chairman, Huh Chang Soo. (International Herald Tribune -- Business Asia)
This race may be Tata's to lose Nov 26, 2007
Yet analysts point out that while Tata lacks expertise in managing upscale brands, it has pumped up sales and profits at many of its acquisitions, including truckmaker Daewoo [] in Korea. Plus parent Tata Group, a sprawling conglomerate with $36 billion in assets, has plenty of cash to develop new models and hire the best talent the industry has to offer. (Rediff)
Investors cool on Tata, Mahindra bids for Ford brands Nov 21, 2007
Among these is the biggest to date, the $13 billion acquisition of Corus Group by Tata Steel Ltd "The group has a good track record in acquisitions and Tata Motors has been successful in integrating Daewoo Commercial Vehicles (acquired in 2004)," said Arora, who believes Jaguar and Land Rover would make better strategic sense for Tata Motors. Tata Motors could quite easily add Land Rover to its lineup of utility vehicles and SUVs. (Guardian Unlimited)
Samsung: New SUV to push sales Nov 20, 2007
Hyundai Motor Co., Kia Motors Corp. and GM Daewoo Auto ology Co. were the top three, and Ssangyong Motor Co. ranked fifth. CONSUMER UPDATE. (AZCentral -- Business)
Beat It! GM may drive in new Chevy Nov 16, 2007
Sources say the small car, developed by GMDAT (GM Daewoo Auto & Technology) in Korea like the Spark, will target markets like India, China and Korea ... GM boss Rick Wagoner had, at the Spark launch earlier this year, said that the company will use the Daewoo engineering capability for mainstream emerging markets like Brazil, China and India. (Economic Times)
Jolt to JV: MLR Motors, Subbu part ways Nov 12, 2007
"The difference of opinion between the parties are over funding the car project and also over utilisation of the Daewoo plant which Subbu and his team have bid and won," sources said ... Meanwhile, the Debt Recovery Tribunal has cleared the decks for Crosslinks Finlease, an SPV promoted by Subbu, SpiceJet's Ajay Singh, and India Online Network's Ashish Deora, to take over the assets and restart the erstwhile Daewoo plant in UP. This in effect would mean that Subbu and his team can get back to... (India Times, India -- Intl Business)
GM Posts $39B Loss on Write-Off, GMAC Nov 8, 2007
But Asia-Pacific adjusted net income rose to $138 million from $57 million, on strong export growth from GM Daewoo, continued strong sales and profitability in China, and improved earnings in India and Australia. Deutsche Bank analyst Rod Lache stood by his buy rating on the stock, telling clients he was surprised by the strength on the auto side of the business. (SmartMoney)
Car, cash taken by two men; nanny maced Oct 25, 2007
Police say the men took cash and other property and made off with a car as well a black four-door 2000 Daewoo with no plates on the vehicle. Its still among the missing, MacKenzie said Tuesday. (Seacoast New Hampshire)
China's Middle Market Oct 24, 2007
There, using inexpensive technology acquired in its 2002 purchase of Korea's ailing Daewoo Motor, GM has created a "good enough" set of autos that strongly appeal to China's burgeoning middle class--and now account for more than 50% of GM's Chinese sales. Behind the automaker's moves is a growing realization that China's middle-market space--where multinationals and Chinese firms are going at it head-to-head--is the market segment from which the world's leading companies will emerge. (Forbes -- Business)
GM forecasts a record year for industry sales Oct 19, 2007
It is expanding lucrative foreign franchises such as the Chevrolet cars produced by its GMDAT joint venture at former Daewoo factories. GM said it expected the global economy would expand by more than 3 per cent in 2007, with growth to continue on a similar pattern into 2008, when it expects global vehicle sales to reach 72 m.. (MSNBC -- Business)
EU to examine if Romania undersold car plant to Ford Motor Co. Oct 10, 2007
The EU executive has ordered Romania to halt any state subsidies to the plant at Craiova effectively freezing the sale until it finishes looking into how the government privatized the debt-laden factory that it took over last year after the previous owner, South Korea's Daewoo Motor Co., went bankrupt in 2000 ... They also want to check reports that Romania had promised Ford the government would write off or guarantee Daewoo's debts in the country and did not make similar commitments to other... (International Herald Tribune -- Business)
GM Daewoo seeks synergy from worldwide design studios Sep 16, 2007
Q: Could you describe the design features of GM Daewoo cars that differentiate GM Daewoo from other brands. What are the main areas of focus in today's GM Daewoo design ... A: At GM Daewoo, we strive to design cars that are aesthetically unique and with strong family identity. (Korea Herald, Korea)
Carmakers use global networks to tailor designs to consumer ... Sep 16, 2007
GM Daewoo Auto ology Co. Renault Samsung Motors Co. and Ssangyong Motor Co. operate under the GM Group, Renault-Nissan Alliance and Shanghai Automotive Group, respectively. Following an interview with Kia's design chief Peter Schreyer, The Korea Herald interviewed the design heads of the three companies - GM Daewoo's Kim Tae-wan (managing director), Renault Samsung's Christophe Dupont (executive managing director) and Ssangyong's Lee Myung-hack (managing director) to look into the design... (Korea Herald, Korea)
GM, Union Trying to Beat Deal Deadline Sep 15, 2007
For example, GM Daewoo exported nearly 117,000 Chevrolet Aveos from South Korea to the United States last year. Bragman also said GM has been pushing hardest for the UAW to form a trust fund and take over the automakers' unfunded long-term retiree health care liability, estimated at a combined $90 billion. (SmartMoney)
High $A puts brakes on Holden's US export plans Sep 13, 2007
" Mr Lutz's comments come despite indications from other sources in GM that the ute program could be signed off and announced at the Los Angeles Motor Show in December or the Detroit show in January. It is most likely to be rebadged as a Pontiac. Mr Lutz delivered his warning only months before the VE Commodore-based Pontiac G8 sedan goes on sale in the US. It is expected to ship as many as 50,000 a year. There is no suggestion the G8 is under threat. But there is no doubt the margins are slim... (The Age, Australia -- Business)
Degree forgery scandal rocks the nation Sep 12, 2007
Daewoo Engineering and Construction had spent over 290 million won on sponsorship for the museum from 2004 to 2006, while the Korea Development Bank allocated nearly 100 million won in support. As a "coincidence," heads of the bank and the company were high school alumni of Byeon. (Korea Herald, Korea)
Car show preview: Frankfurt Sep 11, 2007
(In Europe, GM sells only rebadged Daewoo cars, like the Aveo, as Chevrolets. The new Aveo Hatchback actually leapfrogs the Aveo sedan in design, taking on Cheverolet's new signature horizontally split chrome-free grill. (CNN -- Money)
Vietnam car sales surge 80 percent in first eight months - auto association Sep 9, 2007
Vidamco, a joint venture of a Vietnamese company and South Korean firm GM Daewoo, followed with a 288 percent increase in sales. VAMA also said that in August, car sales were up 73 percent year-on-year at 6,559 units against the same month last year. (Forbes -- Markets)
Ford buys Romanian auto plant for $77.9 million Sep 8, 2007
Ford had said in July that it would spend $923 million developing the former Daewoo car factory into a major facility for its vehicle and engine production requirements. Romania paid $60 million last year to buy a 51 percent stake in the company from Daewoo's creditors. (San Diego Union-Tribune -- Business)
Redesigned VW Touareg is priced higher Aug 29, 2007
They were built by GM Daewoo Auto ology Co., Suzuki says. The company told the National Highway Traffic Safety Administration that a faulty weld causes the malfunction. (Atlanta Journal-Constitution)
Briefly: New phone clients drive Softbank profit gain Aug 9, 2007
GM Daewoo Auto & Technology, the General Motors carmaking unit in South Korea, signed a wage pact with its union, ending a pay dispute that had blocked production of 3,500 vehicles. Workers will receive a 5. (International Herald Tribune -- Business Asia)
Hyundai unfazed by embezzling chief's impending imprisonment Aug 5, 2007
"After the market's dizzying rally this year, clients are asking us to buy undervalued stocks," said Michael Na, an analyst at Daewoo Securities. "Big names like Hyundai that haven't participated in the run-up could go further.". (Business Report, South Africa)
The Last Rajah Aug 4, 2007
Since 2003, Tata has bought the truck unit of South Korea's Daewoo Motors, a stake in one of Indonesia's biggest coal mines, and steel mills in Singapore, Thailand, and Vietnam. It has taken over a slew of tony hotels including New York's Pierre, the Ritz-Carlton in Boston, and San Francisco's Camden Place. (BusinessWeek)
Plus: Q&A with Ratan Tata Aug 3, 2007
Daewoo Motors had heavy trucks, which we didn't have. European steel giant] Corus was basically a very good fit. (BusinessWeek)
GM Reports Preliminary Second Quarter Financial Results Jul 31, 2007
The improvements were largely driven by strong performance at GM Daewoo and GM China. GM enjoyed eight percent sales growth in the Asia Pacific region, and GM China set a new volume record with 234,000 units in the quarter, up over six percent year-over-year. (Canada Newswire)
Suzuki recalls 06 and 07 cars Jul 28, 2007
The cars are made by GM Daewoo Auto ology Co., a subsidiary in which Suzuki owns 50. 9 percent of shares. (AZCentral -- Business)
They've Driven a Ford Lately Jul 27, 2007
Sure, the cheapest Focus is nearly $4,000 more than a Russian-made Lada or low-cost foreign cars such as the Renault Logan and Daewoo Nexia. But Ford says Russians are willing to spend a bit extra for a better car, and often even pony up for premium features. (BusinessWeek)
