Daewoo-FSO's Nysa Motor may have new lease of life

The bankrupt car producer Nysa Motor, owned by Daewoo-FSO, has been granted renewed hope of continuing production. A private company, Clic Car Corporation, owned by Waclaw Stevnert, has expressed interest in investment and is willing to commence production of a 2.5-meter-long city car by the name of Clic. "We have rented the prototype design facilities from Nysa Motor and are planning to rent the whole production area from the syndicate by the end of the year. Negotiations concerning this issue should be closed before the end of the year and we plan to begin production by June 2003. The cost of the project is estimated at tens of millions of dollars," the head of Clic Car said. He has also declared an intention to produce 5,000 units of the car in 2003 and hopes to export half of this output. "With the new production, around 200 of the 900 employees who lost their jobs in June, due to the bankruptcy of Nysa Motor, will find employment. The confident entrepreneur also announced plans to restart production of the Polonez Truck as well as car components for the automobile and agricultural industries, where he hopes to employ a further 200 people. Clic Car Corporation, with the aid of the Nysa Motor's main creditor, BIG BG, is seeking partners to help finance the project. (Puls Biznesu, p. 6) A.K.