Daewoo-FSO Motor car plant at Żeran (Warsaw)
On 14 November 1995 an agreement was signed at the Ministry of Industry and Trade to privatise the Passenger Car Factory at Żeran in Warsaw and to establish the Daewoo-FSO joint venture, in which the Korean conglomerate Daewoo took almost 90% of the shares, with the Polish side remaining a minority shareholder. The new investor committed to an outlay of around USD 1.5 billion (some sources give USD 1.1 billion) and promised eventual production of around 500,000 cars a year. The Żeran plant was modernised and expanded, raising production capacity to 225,000 cars a year; production of the Daewoo Tico began in 1996, soon supplemented by previous-generation models (Nexia, Espero), and then by assembly of the Lanos, Nubira and Leganza, and, from late 1998, the Matiz. After the 1997 Asian financial crisis, the Daewoo conglomerate fell into serious financial difficulty; in November 2000 Daewoo Motor's debt reached about USD 20 billion, and bankruptcy was declared for the group's car division. FSO was not included in General Motors' rescue plan, and car production at Żeran, later continued under the FSO brand, finally ended in 2011.
The Daewoo-FSO joint venture, established on 14 November 1995, was meant to be a driving force for the Polish car industry, and Daewoo committed to an investment of around USD 1.5 billion. After the 1997 Asian financial crisis, the Daewoo conglomerate fell into serious financial difficulty; in November 2000 Daewoo Motor's balance sheet showed about USD 20 billion of debt, and bankruptcy was declared for the car division. FSO was not included in General Motors' rescue plan, and car production at Żeran, later continued under the FSO brand, finally ended in 2011.
How it went
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- Current
- produkcja zakończona w 2011 roku (ostatni samochód opuścił linię)
- Capacity or target
- 225 tys. samochodów rocznie
- Unit
- auta/rok
Timeline
- Announced1995
- Construction start14 Nov 1995
- Delivery1996
Change history
- 1996status: completedUruchomienie produkcji samochodów na zmodernizowanym Żeraniu pod kontrolą Daewoo (start produkcji Daewoo Tico).
- 1996stage: operational
Significance
The privatisation of the Passenger Car Factory at Żeran and the establishment, on 14 November 1995, of a joint venture with the Korean conglomerate Daewoo (which took almost 90% of the shares) was one of the largest foreign investments in Poland in the 1990s and was meant to be a driving force for the domestic car industry. The investor committed to an outlay of around USD 1.5 billion; the plant was modernised and expanded, raising production capacity to 225,000 cars a year. Żeran produced, among others, the Daewoo Tico, Nexia and Espero, and later the Lanos and Matiz. After the 1997 Asian crisis and Daewoo's bankruptcy in 2000, the venture collapsed, and production, later continued under the FSO brand, ended in 2011.
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- Motoryzacja Interia.plStatusStageCostDelivery
Status · Deliveryw 1996 na Żeraniu ruszyła produkcja Daewoo Tico, uzupełnioną wkrótce przez modele poprzedniej generacji: Nexię i Espero
Stage · Deliveryw 1996 na Żeraniu ruszyła produkcja Daewoo Tico
CostNowy właściciel zobowiązał się do inwestycji na poziomie 1,5 mld dolarów
- Autoblog / Spider's Web2018AnnouncedInvestorUtilisation
Announced · Investor23 lata temu, 14 listopada 1995, podpisano umowę o powołaniu do życia spółki Daewoo-FSO.
UtilisationZmodernizowano i rozbudowano zakłady, podnosząc możliwości produkcyjne do 225 tysięcy samochodów rocznie.
- bezpiecznapodroz.org17 Aug 2025Construction startInvestorFailure description
Construction startUmowa joint venture – Daewoo-FSO – została formalnie podpisana w listopadzie 1995 r.
InvestorKoreańczycy objęli niemal 90% udziałów.
Failure descriptionW listopadzie 2000 r. bilans Daewoo Motor pokazał 20 mld USD długu. Marzenie o wejściu do pierwszej dziesiątki światowych producentów samochodów legło w gruzach. Ogłoszono bankructwo.
- eGospodarka.pl14 Nov 1995Cost
Cost1 USD = 2,4740 PLN
- [5]moto.wp.pl ↗Funding
Fundingsześcioletni program inwestycyjny, który miało zrealizować Daewoo, określono na 1 mld 121 mln USD
FundingSkarb Państwa, w ramach swojego wkładu, umorzył wierzytelności