Thursday, December 29, 2005

Knock Downs Drive GM Daewoo

GM Daewoo Auto & Technology Co. annonved that it began construction of its fourth knockdown packing facility at the western port city of Incheon in cooperation with Hanjin Transportation Co. and Korea Express Co.

The new KD center, which is slated to begin operation in the second half of 2006, will have the capacity to pack and export 570,000 kits annually to countries in Asia Pacific, Latin America and Europe.

With the new facility, GM Daewoo's annual KD export volume will reach 1,420,000 kits.

In 2004, GM Daewoo shipped off 337,110 KD vehicles, ranking first among Korean automakers. In the first 11 months of 2005, its KD exports were running 49.6 percent ahead of the same period last year, totaling 448,425 units.

Hanjin and KOREX will construct and manage the buildings where GM Daewoo will install necessary machinery and equipment. The carmaker is leasing the land and buildings for a period of 10 years.

Knockdowns, which are exported for assembly, range from nearly fully-assembled vehicles to packaged kits containing major subsystems and components, depending on the model and degree of parts localization at the destination's assembly center.

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