GM to sign deal to sell closed S.Korean plant to parts makers -two sources

MS AUTOTECH

29/03/2019 01:58

SEOUL, March 29 (Reuters) - General Motors  GM.N  is
expected to sign a deal to sell its shuttered factory in the
South Korean city of Gunsan to a local consortium of auto parts
makers, two sources with direct knowledge of the matter told
Reuters on Friday.
    Provincial government officials will hold a press conference
on the sale later in the day, the two sources said.  
    One source said the consortium is in talks with an
unidentified automaker to manufacture electric vehicles at the
facility. 
    GM closed one of its four South Korean plants last year and
let go thousands of workers, as its loss-making unit was reeling
from the automaker's exit from Europe, a major export market.
    A GM Korea spokeswoman declined to comment. 

 (Reporting by Hyunjoo Jin; editing by Darren Schuettler)
 ((hyunjoo.jin@thomsonreuters.com; 82-2-3704-5685; Reuters
Messaging: hyunjoo.jin.thomsonreuters.com@reuters.net))