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Article: Daewoo International to take over Uzbek cotton mill.
- Article from:
- UzReport
- Article date:
- March 10, 2008
CopyrightCOPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TASHKENT, March 10 (UzReport.com): Daewoo International, one of South Korea's leading global trading companies, said Sunday that it has recently decided to invest about US$47.5 million (roughly 45.4 billion won) to take over Bukharatex, a top-class yarn and fabrics firm in Uzbekistan.
The board of directors gave the go-ahead to the takeover after the company's President and CEO, Kang Young-won, reached an agreement in principle with Uzbek President Islam Karimov, who visited Seoul late last month, a company spokesman told the Korea Times.
Daewoo International has already been operating two textile companies in Uzbekistan ? Daewoo Textile Company (DTC) ...