S.Korea Kumho mulls delaying U.S. plant -official

Mon Dec 1, 2008 10:32pm EST
 
[-] Text [+]

SEOUL, Dec 2 (Reuters) - Kumho Tires Co Ltd, South Korea's No.2 tyre maker, is considering delaying completion of its U.S. plant in Georgia as a severe economic slowdown has hit the world's top auto market, a company official said on Tuesday.

"We are considering postponing the completion of the plant, given the global recession and the shakeup in the auto industry," the official told Reuters by telephone, asking not to be identified.

Kumho (073240.KS) had planned to finish the construction of the factory by the second half of next year with an investment of $165 million. (Reporting by Cheon Jong-woo; Editing by Jonathan Hopfner)

 
Kenneth Griffin, Founder, President and CEO, Citadel Investment Group LLC, speaks during the "Financial Recovery: When and How?" panel at the 2009 Milken Institute Global Conference in Beverly Hills, California April 27, 2009. REUTERS/Phil McCarten
Citadel enters the fray

Kenneth Griffin's powerful hedge fund has waded into the case of Goldman Sachs' purloined computer code, suing three of its former employees for setting up Teza Technologies.  Full Article | Full Coverage 

Join the Reuters Consumer Insight Panel and help us get to know you better

Join the Reuters Consumer Insight Panel and help us get to know you better