S.Korea's Ssangyong Motor says suspends production
SEOUL |
SEOUL Jan 13 (Reuters) - Ssangyong Motor Co (003620.KS), South Korea's No.5 automaker, said on Tuesday it had suspended production at all of its factories as it fights to avoid bankruptcy.
Ssangyong, in which China's SAIC Motor Corp (600104.SS) owns a 51 percent stake, said in a filing to the Korea Exchange the South Korean sport utility vehicle (SUV) maker would halt production from Tuesday and had not decided when to resume.
On Friday the country's smallest automaker filed for bankruptcy protection with a South Korean court. (Reporting by Cheon Jong-woo; Editing by Keiron Henderson)
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