Tojik11
10-08-2007, 05:12 PM
GM to set up car venture in Uzbekistan
Reuters
October 08, 2007
TASHKENT (Reuters) - General Motors Corp has set up a joint venture in Uzbekistan to produce and sell cars in the central Asian state, the Uzbek state auto company said on Monday.
The state company, Uzavtoprom, said in a statement the two had signed an agreement to set up the venture, based on an existing car plant in Uzbekistan with annual production capacity of 250,000 Chevrolet cars.
The statement said GM would hold a 25 percent in the venture with a possibility to raise it to 40 percent. The statement did not say how much the deal is worth and GM could not immediately be reached for comment.
The plant in eastern Uzbekistan was set up in 1996 together with South Korean (http://search.live.com/results.aspx?FORM=CXTFIN&setlang=en-CA&q=South Korean&mkt=en-CA) company Daewoo Motor. Uzavtoprom has been looking for a strategic partner in the project since the Korean firm went bankrupt during a financial crisis in the late 1990s
Reuters
October 08, 2007
TASHKENT (Reuters) - General Motors Corp has set up a joint venture in Uzbekistan to produce and sell cars in the central Asian state, the Uzbek state auto company said on Monday.
The state company, Uzavtoprom, said in a statement the two had signed an agreement to set up the venture, based on an existing car plant in Uzbekistan with annual production capacity of 250,000 Chevrolet cars.
The statement said GM would hold a 25 percent in the venture with a possibility to raise it to 40 percent. The statement did not say how much the deal is worth and GM could not immediately be reached for comment.
The plant in eastern Uzbekistan was set up in 1996 together with South Korean (http://search.live.com/results.aspx?FORM=CXTFIN&setlang=en-CA&q=South Korean&mkt=en-CA) company Daewoo Motor. Uzavtoprom has been looking for a strategic partner in the project since the Korean firm went bankrupt during a financial crisis in the late 1990s