GM Daewoo Faces 'Critical' Second Quarter

South Korean carmaker GM Daewoo Auto & Technology (GM Daewoo) is in close talks with its bank and major shareholder, the Korea Development Bank (KDB), as it approaches what it believes will be a 'critical' second quarter in terms of cash flow. CEO Michael Grimaldi remains upbeat about the company's chances of survival despite the problems of its US parent, and told Automotive News that the pair were in close contact regarding investment plans.

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