Daewoo Motor Co. Ltd. says cost-cutting efforts helped the company slash its 2001 net loss by 70%, but annual losses still totaled 3.6 trillion won ($2.73 billion). The South Korean auto maker, which General Motors Corp. is in negotiations to purchase, returned to an operating profit of 10.8 billion won ($8.2 million), from a 580.7 billion won ($439.2 million) loss in 2000. Daewoo’s sales during the first quarter of the year grew 2.4% from year-prior to 109,698 vehicles, with exports of ...
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