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Halla Begins Sales of its Affiliates

Sept 10,1998
Halla Group has started to sell its four of its companies including Mando Machinery because its creditors are ready to accept the conditions. The companies Halla plans to sell are seven factories of Mando Machinery, Halla Electronics, and Halla Air Conditioners.
The Rothchild Co. proposed a program by which it invests 1.53 trillion won and Halla raises 843 billion won to pay its debts. Halla Heavy Industry must raise 369.6 billion won, followed by Mando Machinery (334.7 billion won), Halla Engineering & Construction (74.3 billion won), and Halla Cement (64.5 billion won).



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