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Hyundai ends bus supply contract with Korindo

2012-02-27

Indonesian firm strives to renew contract as market share shrinks

Hyundai Motor co. stopped shipping commercial vehicles to Korindo Group of Indonesia, ending its largest contract in Asia, the company said on Sunday.

The world’s fifth-biggest carmaker refused to renew its contract to produce trucks and buses for Korindo since the deal expired on June 15, the Jakarta-based Korean-run developer said.


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By Cynthia J. Kim (cynthiak@heraldm.com) | http://www.koreaherald.com

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