Romanian carmaker Daewoo Automobile Romania (DWAR) is authorised to assemble the products of the Korean group Daewoo Motor (controlled by the Americans at General Motors) only until October 2005, Hanspeter Ryser, the communications manager of General Motors Daewoo (GM DAT) Zurich told Ziarul Financiar.
Ryser is thus denying recent information that pointed to a potential takeover of the Craiova-based plant by General Motors. Rumours circulating on the Romanian automotive market indicated that GM DAT had resumed talks with the Romanian authorities in view of taking over or at least working more closely with Daewoo Automobile Romania.
On the other hand, the GM DAT official is not denying that company representatives had meetings with officials from the Government and the Romanian company, but says that this is nothing out of the ordinary.
"GM DAT has regular talks with its business partners and with Government officials from those countries where we operate. DWAR and the Romanian Government are no exception. We have also met with officials from the former Daewoo companies in Central and Eastern Europe and with the respective governments, including FSO (Poland), ZAZ (Ukraine) and Uz-Daewoo (Uzbekistan)," Ryser explained. The AVAS (State Assets Resolution Authority), which holds a 49% stake in DWAR says there has been no meeting with GM DAT officials or with the other shareholders of DWAR - Korean group Daewoo Motor.
Under the circumstances, Ryser says the Craiova-based plant has the right to keep producing automobiles only until next autumn.
"According to our plans for DWAR, we shall continue our existing business relations for the CKDs (the vehicles component assembled here), as stipulated in the Master Transaction Agreement, which lies at the core of GM Daewoo. According to this document, DWAR is authorised to assemble GM DAT products until October 2005 and to distribute them until October 2006," Ryser stated.
Daewoo Automobile Romania officials would not comment on the issue, only saying that "discussion channels were opened" at the end of last year, when several Romanian officials traveled to Korea.
ionut.bonoiu@zf.ro
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