Chery Seeks European Expansion Through FSO Purchase

The slow recovery in Europe continues to endanger small- and medium-sized auto firms in the region, as evident from the plight of Poland's Fabryka Samochodow Osobowych (FSO), which faces uncertainty unless an investor comes to its rescue. Meanwhile, the situation is providing opportunities for overseas companies looking to forge a presence in Europe through the acquisition of struggling firms. As such, Chinese Chery Automobile is reportedly planning to purchase controlling interest of the FSO plant in Warsaw.

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