February 13, 2018 / 1:10 AM / 10 days ago

BRIEF-GM Korea to close one of four plants in South Korea

Feb 12 (Reuters) - General Motors Co:

* GM KOREA ANNOUNCES FIRST STEP IN NECESSARY RESTRUCTURING

* ‍GM KOREA COMPANY (GM KOREA) ANNOUNCED THAT IT WILL CEASE PRODUCTION AND CLOSE ITS GUNSAN PLANT BY END OF MAY 2018​

* AS A RESULT OF CLOSURE, CO EXPECTS TO TAKE CHARGES OF UP TO $850 MILLION, INCLUDING ABOUT $475 MILLION OF NON-CASH ASSET IMPAIRMENTS​

* GENERAL MOTORS - CO ALSO EXPECTS TO TAKE CHARGES OF UP TO $375 MILLION OF PRIMARILY EMPLOYEE-RELATED CASH EXPENSES; SUBSTANTIALLY ALL CHARGES TO BE RECORDED BY END OF Q2 2018​ Source text for Eikon: Further company coverage:

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