Will Hinduja seek to buy the Daewoo Lublin factory?

Representatives of the Italian car manufacturer Iveco, have rejected the idea of purchasing the bankrupt Daewoo Motor Polska factory in Lublin, which makes commercial vehicles. " Iveco will not take over Daewoo Lublin," said Pawel Wadolowski, Daewoo's receiver's spokesman. According to Iveco, the investment would be too risky and is connected with significant financial and logistical problems. Talks with Iveco started in October 2001 and pertained to a project of producing a new delivery van, then referred to as LD-100. The project was 80% complete, but then the Italians pulled out. The receiver for the Lublin Daewoo plant is currently in talks with other potential investors. According to unofficial information revealed by Gazeta Wyborcza, the Indian Hinduja concern is interested in the plant. (Gazeta Wyborcza, p. 32; Prawo i Gospodarka, p. 4) M.T.K.