S Korea Daewoo International Gets $52 Million OEM Order From US Carmaker

SEOUL -October 20,2002,Dow Jones reported that South Korea's Daewoo International Corp. said Monday it has secured a car parts order worth $52 million from a U.S. carmaker under an original equipment manufacturing, or OEM, contract.

Daewoo International, a general trading company, declined to name the U.S. carmaker, but said it is one of the three largest.

Under the contract, Daewoo International will provide about 2 million units of control arms, a part of an automotive suspension system, over the next four years.