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SAMSUNG HEAVY INDUSTRIES TO PRODUCE TRUCKS

 SAMSUNG HEAVY INDUSTRIES TO PRODUCE TRUCKS
 SEOUL, Korea, July 14 /PRNewswire/ -- The Samsung Group, the world's


23rd largest corporation, announced today that its Samsung Heavy Industries (SHI) will produce heavy special-purpose trucks after receiving approval from the Korean Ministry of Commerce and Industry. The company plans to make trucks with a capacity of eight tons or more, freight trucks, cement mixer trucks, concrete pumper cars and tractors accessing engine technology that Samsung has purchased through a new relationship with Nissan Diesel Motor Co.
 SHI will invest over $900 million in the remainder of 1992 to the end of 1994 to build a new production facility at its existing plant in Changwon, outside of Seoul. Currently, the plant manufactures heavy construction equipment, and will be able to utilize present facilities and technology to make parts needed for the all-purpose trucks. Mass production is scheduled to begin in the second half of 1994. In 1994, SHI expects to build 1,200 vehicles and seeks to raise annual production capacity to 4,800 by 1997.
 Initially, Samsung will sell the trucks in the Korean market. Its long-term goal is to export the trucks to the U.S. and European markets.
 In order to increase the level of technological sophistication and superiority of these special purpose trucks, The Samsung Group is developing advanced technology including electronics and semiconductors.
 SHI anticipates its entry into the special-purpose truck industry will raise product competitiveness and quality in this category. At the same time, The Samsung Group plans to strengthen the competitiveness of truck parts made in Korea by providing technical guidance, financing and new facilities to local parts makers.
 Samsung Heavy Industries Co. Ltd. (SHI), an affiliate company of The Samsung Group, has led the group into the areas of construction, heavy equipment, machinery, and shipbuilding. Since its establishment in 1974, SHI has been a significant contributor to the emergence of South Korea's industrial manufacturing industry. SHI consists of four divisions: shipbuilding, plant & industrial machinery, construction equipment, and construction, plus one support division which coordinates operations among the four.
 In 1991, SHI's total sales reached US$2.1 billion. The Samsung Group's total revenues in 1991 were US$46 billion.
 -0- 7/14/92
 /CONTACT: Suzanne Andora of Edelman Public Relations, 212-704-8105, for Samsung Heavy Industries/ CO: Samsung Heavy Industries ST: IN: AUT SU:


PS-TS -- NY053 -- 9110 07/14/92 12:34 EDT
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Date:Jul 14, 1992
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