Tata joins list of possible investors in Daewoo-FSO

Indian car producer Tata Engineering, part of the Tata Group, is reported to be interested in ailing Polish auto-maker Daewoo-FSO. "I can neither confirm nor deny this information," said deputy Economy Minister and head of the government-appointed Daewoo-FSO restructuring team, Maciej Lesny. Puls Biznesu quotes a Daewoo-FSO employee who, in comments on the Tata interest, says, "The name comes up during talks with the staff." Tata Engineering, which is India's largest vehicle manufacturer and a major passenger car producer, made $1.73 billion in 2001. However, an industry insider told Puls Biznesu it is doubtful whether another "exotic marriage" would be to D aewoo-FSO's advantage, especially as Tata has been making a loss since September 2001. The Indian concern faces competition for control of Da ewoo-FSO from four other potential investors, among them Hyundai. According to Lesny, a final decision on the new investor will be made by April 20 at the latest. (Puls Biznesu, p. 4) M.T.K.