WARSAW, Poland, Sept. 18 U.S. automaker General Motors announced plans to rebuild the FSO manufacturing plant in Poland and make it Europe's biggest Chevrolet producer.
Peter Forster, chief executive officer of General Motors Europe, said the company wants to make cars in Poland for the next 25 years or more, a Polish Radio report said. GM plans to produce 400,000 Chevrolet vehicles annually.
Earlier this month, GM announced it paid $254.5 million for 40 percent of FSO shares.
GM is prepared to pay to the Polish government $192 million that the state invested into bailing out the FSO plant, after the South Korean Daewoo car producer went bankrupt in 2001, the Rzeczpospolita daily said.
The FSO plant in Warsaw was manufacturing Polonez cars, Poland's main auto under the communist regime and the factory retained leadership in car production after Daewoo bought it in 1995.
Copyright 2007 by UPI
