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Blackburn Daewoo history
Blackburn Daewoo company history timeline
Beginning in 1962 the South Korean government instigated a series of five-year plans and forced the chaebols to aim for a number of basic objectives.
1975: Daewoo Corporation is licensed as a general trading company (GTC) by the Korean government.
The great change in attitude shown by the Korean government to the chaebols is best illustrated by the fate of one of Daewoo's competitors, the Kukje Group, which went into liquidation in 1985.
The situation was exacerbated by the bankruptcy of US Lines in 1986.
In 1987 247,000 Pontiac LeManses were built, and the car, based on a design by the German car giant Opel, was well received in the United States market.
By the end of 1988, Daewoo had enough confidence in the skills it had learned in the Sikorsky project to announce that it was to begin work on civilian helicopters and airplanes, which would be considerably cheaper than those produced by their United States counterparts.
A factory was set up at Pusan and in 1990 3.6 million shirts were made there each month.
Early indications were positive as Daewoo, in 1995, captured more than 1 percent of the British car market in the first month that it started selling Nexia and Espero sedans, exceeding its goal.
1995: Daewoo buys 60 percent of Poland's state-owned car company FSO for $1.1 billion.
On August 16, 1999, Daewoo's creditors announced a government-mandated plan to break up the company.
1999: Facing at least $50 billion in debt, Daewoo is formally dismantled.
Overall, Kim set goals of quadrupling auto output to a total of two million vehicles by 2000, and of becoming one of the world's top ten automakers.
Non-Korean production stood at 19 percent but was slated to be increased to 60 percent by 2000.
In a 2003 interview with Fortune magazine, Mr.
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Blackburn Daewoo competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Peugeot Brasil | 2001 | $169.8B | 208,780 | - |
| Rosenthal Automotive | 1954 | $210.0M | 985 | 19 |
| Volvo Cars | 1927 | $23.6B | 38,000 | 77 |
| Golf & Electric Vehicles | - | $1.6M | 30 | - |
| LoJack | 1978 | $129.6M | 582 | - |
| Cummins Northeast | - | $34.1B | 350 | - |
| Broadbase Inc. Dba Jiffylube | - | $23.0M | 184 | - |
| Cottman Transmission and Total Auto Care | 1962 | $49.0M | 50 | - |
| OPEN ROAD | 2000 | $1.5B | 3,000 | 41 |
| Parks Motor Sales | 1958 | $3.0M | 20 | 21 |
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Blackburn Daewoo may also be known as or be related to Blackburn Daewoo, DAEWOO MOTOR AMERICA INC and Daewoo Motor America, Inc.