Upgrade for our proposal for Autothai

Daewood Automobile Romania

Dear Friends,

Our Board of Directors decided the folowing upgrades to proposals we have already made:

- raising initial investment so we would manufacture in the first year 45.000 cars and after four years our production would be 170.000 cars and 25% of which produced for export.
- ownership:
- 35% AutoThai
- 65% Daewoo Automobile Romania
- management: We propose a 13 member Board of Directors:
- 7 Daewoo Automobile Romania
- 5 AutoThai
- 1 Foreign Investment Commission of Thailand
- financing:
- 50% Equity
- 65% to be provided by Daewoo Automobile Romania
- 35% to be provided by AutoThai
- 50% to be borrowed in the form of bonds by our joint venture.
- technology transfer and training
- rapid training of AutoThai technicians and management in Thailand and Romania
- rapid and meaningful technology transfer
- after the first two years, 60% of components to be supplied within Thailand and after two more years that will be 100%.

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