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BUSINESS
April 3, 1995 | Times Staff and Wire Reports
Samsung to Form Auto Division: South Korea's largest conglomerate said it has formed a subsidiary to make cars. The $120-million investment to start up Samsung Motors Inc. will come from three sister firms, Samsung Electro-Mechanics, Samsung Display Devices and Joong-Ang Development Co. Ltd., the company said. Samsung Motors is expected to build about 60,000 cars a year starting in 1998, and increase production to 500,000 by 2001.
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BUSINESS
March 21, 1997 | JOHN O'DELL
Korea's newest car maker, Samsung Motors Inc., has scrapped plans to enter the U.S. market at the turn of the century, but says it won't abandon its U.S. design center in Huntington Beach. Samsung bought the center last year from independent British design firm International Automotive Design. The company says it will continue to use the Orange County center to generate ideas for its operations around the globe. And, of course, to help design cars for the U.S.
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BUSINESS
March 21, 1997 | JOHN O'DELL
Korea's newest car maker, Samsung Motors Inc., has scrapped plans to enter the U.S. market at the turn of the century, but says it won't abandon its U.S. design center in Huntington Beach. Samsung bought the center last year from independent British design firm International Automotive Design. The company says it will continue to use the Orange County center to generate ideas for its operations around the globe. And, of course, to help design cars for the U.S.
BUSINESS
December 20, 1995 | JOHN O'DELL, TIMES STAFF WRITER
Fledgling South Korean car company Samsung Motors Inc. has acquired a vehicle design center in Huntington Beach and plans to have at least 45 stylists working there by next year. Samsung, which plans to launch U.S. auto sales shortly after the end of the decade, and Daewoo Motors, which intends to start selling here in 1997, would join two other South Korean car makers, Hyundai and Kia, in the North American market. Both Hyundai and Kia have established U.S.
BUSINESS
December 20, 1995 | JOHN O'DELL, TIMES STAFF WRITER
Fledgling South Korean car company Samsung Motors Inc. has acquired a vehicle design center in Huntington Beach and plans to have at least 45 stylists working there by next year. Samsung, which plans to launch U.S. auto sales shortly after the end of the decade, and Daewoo Motors, which intends to start selling here in 1997, would join two other South Korean car makers, Hyundai and Kia, in the North American market. Both Hyundai and Kia have established U.S.
BUSINESS
February 15, 1999 | Bloomberg News
* Workers at South Korea's Samsung Motors Inc. have ended a two-month strike, paving the way for Daewoo Group to sign a deal to take over the loss-making car maker. Production at Samsung Motors could resume Wednesday. Workers and management of Samsung Motors have been negotiating since the strike began in December. Officials at Samsung, a unit of Samsung Group, were not available for comment. Daewoo is due to sign a memorandum of understanding by today to take over Samsung Motors.
BUSINESS
August 22, 1998 | Associated Press
Ford Motor Co. and the South Korean auto firms Hyundai Motor Co., Daewoo Motor Co. and Samsung Motors Inc. entered bids for Kia Motors Co., but General Motors Corp. dropped out of the bidding at the last minute, Kia said. GM had said in July it would be among the bidders for Kia, South Korea's second-largest auto maker before it collapsed last year in a financial crisis. A 15-member panel will study the offers for Kia and its commercial-vehicle unit, Asia Motors Corp.
BUSINESS
September 24, 1998 | From Bloomberg News
The auction of Kia Motors Corp., an insolvent South Korean auto maker, was scrapped for the second time in a month after creditors refused debt write-offs demanded by the bidders, a Kia spokesman said Wednesday. The failed attempt to sell the company appears to reopen the door to Ford Motor Co. to rejoin the suitors. Ford had dropped out of the second round after Kia's creditors refused to sweeten the pot by writing off more of the company's debt. But when Hyundai Motor Co., Daewoo Motor Co.
BUSINESS
November 26, 2000 | JAMES FLANIGAN
It will be no consolation to fired executives at Chrysler's headquarters in Auburn Hills, Mich., to know that there is method to the madness of Juergen Schrempp, the Stuttgart-based chairman of DaimlerChrysler, who is now restructuring their old company.
BUSINESS
April 26, 1998 | DAVID HOLLEY, TIMES STAFF WRITER
Even in the hyped world of public relations extravaganzas, the claims made for Daewoo Motors' new Matiz mini-car at its formal launching ceremony--that it has achieved perfection--rang of chutzpah. The Matiz is a "perfect, strong, safe, comfortable and convenient car that will be the best of its kind in the global market," Lee Kwan Kie, president of the Daewoo subsidiary that manufactures the car, told hundreds of reception guests and reporters.
BUSINESS
April 3, 1995 | Times Staff and Wire Reports
Samsung to Form Auto Division: South Korea's largest conglomerate said it has formed a subsidiary to make cars. The $120-million investment to start up Samsung Motors Inc. will come from three sister firms, Samsung Electro-Mechanics, Samsung Display Devices and Joong-Ang Development Co. Ltd., the company said. Samsung Motors is expected to build about 60,000 cars a year starting in 1998, and increase production to 500,000 by 2001.
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