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GM to sell plant in S. Korea to local parts maker

2019-03-29 0 Dailymotion

한국GM 군산 공장, 부품 업체가 인수<br /><br />General Motors Korea has signed an initial deal to sell off the plant in Gunsan that it shut down.<br />Parts maker MS Autotech, which is part of the consortium buying the plant, said it plans to turn it into a parts factory to produce electric vehicles.<br />The firm is a major subcontractor of Hyundai Motor.<br />The acquisition price was not made public, but it reportedly could reach up to one-hundred-seventy-six million U.S. dollars.<br />The plant was shut down last May as a part of GM's plan to reorganize their global strategy and due to a low utilization rate.

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