Minister hints Hyundai might be best partner for NSC

According to Deputy Economy Minister Maciej Lesny Korean car giant Hyundai (which also own the KIA car producer) might be interested in investing in the New Small Company (NSC) which is to continue production of cars after being separated from Daewoo-FSO. Rzeczpospolita rumors that Hyundai's offer is much more attractive than the one put forward by Rover, and where Rover is demanding government guarantees of zl.1.4 billion. "All doubts will be settled on September 25," said Lesny, as this is the date of the company's shareholders' meeting. "In looking at it in terms of what is best for the Polish economy, Hyundai's offer might seem the more interesting as Hyundai has no base in Europe and that is why it would be willing to invest here," said a member of the management of Daewoo-FSO. Until now the dominant entity, Daewoo Motor, has not agreed to a debt for equity swop with the NSC. In 2001 the net losses of Daewoo-FSO reached zl. 790 million while the company debt stands at zl. 3.5 billion. (Rzeczpospolita, p. B2; Prawo i Gospodarka, p. 3) A.K.