/ 18 February 2000

PEUGEOT IN TALKS WITH HYUNDAI PLANT

A TEAM from French car manufacturer Peugeot arrived in Gabarone, Botswana on Thursday for talks about bailing out Hyundai’s bankrupt car assembly plant. The 193-million pula ($41-million) plant, Botswana’s biggest manufacturing enterprise, was placed under temporary liquidation last month after it could not service loans of about $127-million. The talks with Peugeot follow similar ones last week with officials from Hyundai Korea, major investor the Botswana Development Corporation said.