Car-maker Daewoo-FSO holds talks with creditors on repayment of debts

Representatives of Polish-Korean car-maker Daewoo-FSO yesterday conducted another round of talks with the company's creditors on postponing payment of its debts. Earlier Kredyt Bank, which is one of Daewoo-FSO's main creditors, had accepted a postponement of its debt repayment until the end of August. The talks coincided with a visit to Korea by a parliamentary delegation made up of Longin Pastusiak and Jerzy Zakrzewski from the Democratic Left Alliance (SLD), and Jerzy Wierchowicz from the Freedom Union (UW). Their agenda includes meeting the president of Daewoo Motor. On Wednesday, Daewoo-FSO begins a production break, the latest stage in a painful restructuring process that has seen the company shed some 3,200 workers in the past few weeks. (Gazeta Wyborcza, p. 15) A.Z.