GM Daewoo CEO: GM Has No Plan To Sell GM Daewoo
02 Juni 2009 - 3:47AM
Dow Jones News
General Motors Corp. (GM) is not planning to sell its South
Korean unit GM Daewoo Auto & Technology Co., GM Daewoo Chief
Executive Michael Grimaldi said Tuesday.
"GM Daewoo and GM Korea will continue to operate in South Korea
as they have been," Michael Grimaldi, who also serves as GM
Daewoo's president, said in a press briefing.
GM Daewoo said Monday it will become part of New GM as the
parent company proceeds with its Chapter 11 filing in the U.S.
GM filed for Chapter 11 bankruptcy protection in New York
Monday.
-By Kyong-Ae Choi, Dow Jones Newswires; 822-2198-2236;
kyong-ae.choi@dowjones.com