Daewoo's uncertain future to be decided by month end

Car manufacturing giant Daewoo-FSO will decide whether to continue further activity, after increasing losses, at its General Shareholders' Meeting on the 31st of August. The company will also decide on whether to increase its share capital by issuing shares to the company's creditors. At present, the company's capital is around zl.2.1 billion; sales revenues in 2000 totalled zl.2.9 billion, but the company suffered losses of zl.597 million. Daewoo-FSO is also currently negotiating with Polish bank consortiums on ways to repay its debt of $160 million, while it also owes its mother company Daewoo Motor $700 million for car parts used in manufacturing. (Rzeczpospolita, p.B2; Puls Biznesu, p.5) A.K.