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Daewoo Motors (India)
BSE: 500100|NSE: DCMDAEWOO|ISIN: INE497A01010|SECTOR: Auto - Cars & Jeeps
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Daewoo Motors (India) is not traded in the last 30 days
Daewoo Motors (India) is not traded in the last 30 days
Company History - Daewoo Motors (India)
1983
 
 - The Company, formerly known as DCM Toyota Ltd., was incorporated as
 a
 Public Limited Company on August 1, and obtained Certificate of
 Commencement of Business on October 1.  The Company was jointly
 promoted by DCM Ltd. and Toyota Motor Corporation, Japan (TMC) vide
 Joint Venture (JV) Agreement dated March 15, 1982, for the purpose
 of
 assembling and progressively manufacturing in India certain models
 of
 Toyota Vehicles to be mutually agreed upon by both parties and spare
 parts thereof, to be distributed for sale to the consuming public.
 
 - The company set up a plant for manufacturing Light Commercial
 Vehicles with an annual capacity of 15000 LCVs at its works at A-I
 Surajpur Industrial Area, Noida-Dadri Road, Tehsil Dadri, Distt
 Ghaziabad-203207 (U.P.).
 
 - The JV agreement provided for DCM to subscribe to the extent of
 33%
 and TOYOTA to subscribe to the extent of 26% of the paid up equity
 share capital of the Company.  
 
 - DCM Ltd. held 33% and TMC held 26% of the Equity Capital of the
 Company.  The plant was equipped with latest machinery to produce
 LCVs
 matching with the stringent international Toyota standards. Plant
 was
 commissioned in 15 months and commercial production of model DYNA
 commenced in 1985.
 
 1995
 
 - The merged company  now known as DCM-Daewoo has virtually stopped
 the supply of the 'Dyna LVC' to its 80 odd dealers in India even as
 it continues to step up export of the vehicle.
 
 -Reported sale of 1 500 cars over a three months period since its
 launch in July  according to the Managing Director S G Aswathy.
 
 -DCM Daewoo changes proposed car model for Indian market again.
 
 -Appointed 50 new dealers nationwide to begin deliveries of the
 1500cc passenger car  Cielo  next month.
 
 - S.G. Awasth  the Korean company has changed its decision to set up
 the engine and transmission manufacturing facilities in China. 
 
 -The chairman of the Korean automobile giant Daewoo  C.S. Lee 
 inaugurated the 50th car showroom-cum-workshop in India with modern
 facilities at par with international standards.
 
 -Becomes the first automobile joint venture to sign a memorandum of
 understanding (MoU) with the Indian government for the import of
 completely knocked down (CKD) units.
 
 -Department of Company Affairs (DCA)  has launched an investigation
 against DCM Daewoo. 
 
 -South Korean automobile giant Daewoo has decided to launch its
 commercial vehicles range in India through subsidiary DCM Daewoo
 Ltd.
 
 -The corporate office of the automobile major DCM Daewoo Motors Ltd
 was raided and sealed by the sales tax authorities
 
 1996
 
 -More than 20 000 Ceilo cars have been sold by DCM Daewoo through
 their appointed dealers all over the country  a large majority of
 which was in Delhi and neighbouring states.
 
 -DCM Daewoo Motors Limited has tied up financing required to bankroll
 its US  billion car project.
 
 -South Korean automobile giant Dawoo is believed to have ticked out a
 proposal for launching 'Ticco' in collaboration with DCM  in India
 this year.
 
 1997
 
 -Maruti Udyog Ltd launched the upgraded version of the 800 cc on
 September 12  visitors at the ongoing 57th Frankfurt Motor Show were
 admiring the all-new Daewoo D'Arts.
 
 -Eenteres into joint venture agreements with various international
 automotive component vendors.  These are Pan Alfa-Dong Won for
 mufflers  Fiem-Sung-San for lamps  Korin India for rear axles and
 Spack Automotive for seats.
 
 -The Cabinet Committee on Foreign Investment (CCFI) has allowed
 Daewoo Corporation of South Korea to hold 92 per cent equity stake in
 DCM Daewoo Motors Ltd
 
 -Daewoo Corporation  South Korea  has already invested or committed
 to invest Rs.685.92 crore in DCM-Daewoo Motors for a 75% equity stake
 (at Rs.25.33 for a 51% stake and at Rs.23.50 for the other 24%
 acquired from DCM) and rights entitlement thereof (at Rs.15 per
 share). 
 
 -Fortune Cars (P) Ltd was launched as the new dealers in Navi Mumbai
 for Cielo  the premium car from DCM Daewoo Motors.
 
 -Cut down the production of Cielo cars by 75 per cent owing to a
 free-fall in their sale.
 
 1998
 
 -Slashed the price of its Cielos a whopping 25 per cent in one
 stroke
 
 -The company has dropped two of its largest dealers  Bhasin Motors in
 New Delhi and Bhandari Motors in Pune
 
 -Launches the Valyou for Money print campaign for the price corrected
  Cielo  it was so caught up by the hook  that the advertising agency
 Equus Advertising company promptly applied for a copyright on the new
 Buzzword
 
 -Launches its small car called Matiz in Seoul. the car was displayed
 at the fourth Auto Expo at Pragati Maidan in New Delhi in January and
 sales of the left-hand version in Korea will begin in April. 
 
 - Toyota Motor Corporation (TMC) of Japan has decided to wash its
 hands off the merger two per cent stake it held in Daewoo Motors
 India Limited  a senior company official said
 
 -Sought a Rs.105-crore loan from the Export Import Bank of Korea
 (K-Exim) to fund its captive power plant in Uttar Pradesh
 
 -Hikes the prices on all the models of Cielo with effect from July 5
 
 - The industry ministry has approved the application of Daewoo Motors
 India Ltd for a technical assistance agreement paving way for the
 introduction of small car Matiz in September
 
 - Korean electronics major  Daewoo  in association with Kinetic
 Communications Ltd  has launched a full range of Daewoo colour
 monitors in the Indian market.
 
 - Matiz  the small car to be launched by the Korean company Daewoo
 Motors
 
 -Joined hands with six non-banking finance companies (NBFCs)
 
 -Mr S G Awashti  managing director  Daewoo Motors has been
 re-appointed for a five-year term.
 
 - 796cc Matiz -- has bagged two international awards for the `best
 small car' at the British International Motor Show in Great Britain
 and the `world's most beautiful car' at the L' Automobile Pin Bella
 Del Mondo contest in Italy.
 
 -Announced the closure of booking for its newly launched Matiz car
 after securing 3 000 orders  three days before slated closure
 
 -The Calcutta High Court has allowed an appeal by Daewoo Motors India
 Ltd and has vacated the order of injunction passed by the 2nd Civil
 Judge  senior division  Alipore Court  restraining the sale of Matiz
 in the state of West Bengal
 
 1999
 
 - Mr. K.H. Nam has been appointed as the Chairman & Whole-time
 director
 of the Company in place of Mr. S.H. Park with effect from 30 April.
              
 2000
 
 -Daewoo has launched the Nexia deluxe, in the upper end of the
 mid-size segment.
 
 -The Company is launching a large-scale service and test drive
 campaign throughout the country from June 17.
 
 - Daewoo Motors India Ltd, a subsidiary of South Korea's Daewoo
 Motor
 Corp, is working out the cost structure of its popular small car
 Matiz in view of the continuing depreciation of the rupee against
 the
 dollar.
 
 - Enthused by the growing demand for its small car `Matiz', Daewoo
 Motors India Ltd is working towards expanding its dealership network
 by
 23.9 per cent while the number of authorised service centres are
 being
 increased 111 per cent by September-end.d
        
 - Daewoo Motors India Ltd is launched S.P.I.C.E. into lives of Matiz
 buyers.  Daewoo introduced two new variants of Matiz - SG and SA --
 which have replaced the existing Matiz SE and SP models.
 
 - The Company will expand its dealer and authorised service centre
 network in the country in an aggressive bid to doble volumes of its
 car
 sales.
 
 - Mr. S. G. Awasthi resigned as chairman of the company.
 
 - The Company has suspended production of passenger cars at its
 Surajpur plant.
 
 - The Company is shutting its plant for a week from December 13,
 following low demand and piling up of stocks.
 
 - Daewoo Motors India Ltd. has in collaboration with ICICI Personal
 Financial Services launched a new scheme for enabling car buyers to
 purchase the company's small car the Matiz at low interest rates.
 
 2001
 
 - Citing a bulging inventory of unsold cars, ailing Daewoo Motor Co.
 temporarily shut down some assembly lines at its main plant
 effectively
 foiling a threatened strike by workers.
 
 - Daewoo Motors India Ltd. will introduce three new models -- two in
 the mid-size segment and one in the premium segment -- in India.
 
 - Daewoo Motors India Ltd. will hive-off its engine and gearbox
 units
 into a separate company.
 
 - Daewoo Motors India Ltd introduced its new cars - Magnus, Lanos
 II,
 and Nubira - in the southern market.
 
 - Daewoo Motors India Ltd (DMIL) Managing Director and Chief
 Executive,
 Mr. Y.C. Kim, has put in his papers and handed over charge to Mr
 Young
 Tae Cho.
 
 - Daewoo Motors India on june 22 said it would hike the prices of
 its
 premium small car Matiz by 2-3 per cent in north and east India from
 July.
 
 - Daewoo Motors India will launch a limited edition version of its
 premium small car Matiz early next month.
 
 - Daewoo Motors India Ltd, subsidiary of the ailing South Korean car
 maker Daewoo Motor Corp, on august 29 announced the launch of two
 special edition versions of its 800-cc Matiz car with more features
 and
 a price dearer by about Rs 9,000. The two special edition cars, the
 Matiz Special SG and Matiz Special SA will be available from
 September1
 
 - DMIL said it had also signed an agreement with the workers union
 for
 a separation programme for the 237 workers affected by the closure
 of
 the plant
 
 - Daewoo Motors India Ltd (DMIL), the subsidiary of bankrupt South
 Korean Daewoo Motor Co Ltd, cut production to just four days a week
 for
 September as part of its cost-cutting drive
 
 - Troubled auto-maker Daewoo Motors has been rated the most
 environment-friendly car manufacturer in India by the Centre for
 Science & Environment. Compatriot Hyundai Motors has been ranked
 second
 in the ratings.
 
 - Daewoo Motor India Ltd, a subsidiary of South Korean chaebol
 Daewoo,
 has asked six executives to leave the organisation.
 
 - These include a general manager based in New Delhi, a deputy
 manager
 from the Chandigarh office of the company, an assistant manager from
 Chennai, an officer (sales and administration) from Mumbai, another
 executive from Bangalore and one secretary-level employee in New
 Delhi.
 
 - Daewoo Motor India Ltd is gearing up to launch new models of the
 Matiz next year. The new Matiz model (not the Kalos) is expected to
 hit
 the roads in January. It will have new features, but most importantly
 a
 different exterior (higher bonnet, grill and front lights, etc),
 which
 will be in sharp contrast to the feminine looks of the existing
 model.
 
 2002
 
 -General Motors is following an agreement it signed to buy assets
 from Daewoo Motor with only slight differences blocking a final
 pact.
 
 -Maruti Udyog Ltd, Daewoo Motors and Hindustan Motors has entered
 into technical tie-up with Rohan Automotive Equipments Pvt Ltd
 (RAEPL) for supply and fitting of LPG dual fuel kits in cars.
 
 -Approaches domestic car manufacturers to acquire assets of the
 ailing company.
 
 - Surajpur factory has stopped its production all the employees are
 waiting for the directions from Korea.
 
 2003
 
 -DRT has appointed receiver rejected bids for the DMIL 's current
 assets, which made the ongoing auction of DMIL assets further
 delayed.
 
 -Daewoo Motors India Ltd, have seized its Surajpur production unit 
 through a receiver inducted by the debt recovery tribunal.
 
 - NM Rothschild, the investment banker has been appointed to sell the
 assets of Daewoo Motors India.
 
 -Mr Sahib Singh Verma, the Union Labour Minister, has intervened in
 the Daewoo Motors India Ltd plant case at Surajpur.
Source : Dion Global Solutions Limited
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