Daewoo Electronics Co has now thought twice about its planned $290m investment in Lorraine, Eastern France, in the light of the South Korean financial crisis. Reports suggest that the planned cathode-ray glass tube plant will now be halted, along with proposed plans for the expansion of television set and refrigerator plants in the same area. Daewoo, of course, is still smarting from the French government’s blocking of its attempt to acquire Thomson Multimedia SA last year (CI No 3,078).
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