TEHRAN, July 28 (Mehr News Agency) - Iranian carmaker Iran
Khodro Company (IKCO) is currently suffering a liquidity crisis and the
Money and Credit Council has agreed to extend a 10 trillion rials (about $1
billion) credit to help the troubled automaker out of the crisis.
Selling assets and offering stock exchange bonds are other options that IKCO has
decided to carry out as part of its recovery plan, the Mehr News Agency
reported.
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Iran Khodro (IKCO) is Middle East's largest automaker |
Currently the stocks of IKCO, the Middle East's largest automaker, have lost
their appeal in the Tehran Stock Exchange.
Meanwhile, the other giant Iranian carmaker the Saipa Group, with an 18 percent
increase in sales last Iranian calendar year (ended March 2009) held the first
place among Iranian car manufacturers.
IRNA reported on Tuesday that with a 17.5 percent yield the Saipa Group has had
the most profitable stocks in the bourse market. The group has also shown a
significant improvement in the quality of its products.
The report added that despite the global economic downturn, the Saipa Group has
managed to find new export destinations in the competitive automotive markets by
offering products with competitive prices and reliable after sales services.
... Payvand News - 07/28/09 ... --
