Daewoo Commercial Reborn as Tata Motors Affiliate

GUNSAN, South Korea, March 29, 2004; Yonhap News reported that Daewoo Commercial Vehicle Co., which has been under court receivership, made a fresh start as an affiliate of the world's sixth-largest truck maker, Tata Motors of India, as they signed an acquisition contract Monday.

A signing ceremony was held at the Daewoo plant in Gunsan, about 275 kilometers south of Seoul, with visiting Tata Group Chairman Ratan N. Tata and Tata Motors President Ravi Kant on hand.