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12:15, 17.06.2010 |
APR
South Korea's Ssangyong Motor said on Tuesday it had agreed to supply Russian carmaker Sollers about 160,000 cars in a knock-down export deal through 2017.
Under the contract Ssangyong is set to export sports utility vehicle parts that will be assembled at Sollers' far eastern factory in Vladivostok, Ssangyong said in a statement.
The deal is part of the effort to revive the SUV maker, now in a sale process under court-led restructuring.
Six bidders have been shortlisted in the early phase of Ssangyong's sale, worth an estimated up to US$500 million (S$699.6 million), including France's Renault SA and India's Mahindra & Mahindra.
-REUTERS
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