(Japanese Site)
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| Zenith Electronics Gets US$125 Million Loan From U.S. Banks
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July 3, 1998 (SEOUL) -- Zenith Electronics Corp., based in Glenview,
Illinois and owned by LG Electronics Inc., signed a US$125 million
credit agreement on July 2 with a U.S. banking group led by
Citicorp of New York.
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LG Electronics said the large loan will help fund Zenith's working
capital.
Zenith Electronics, which suffered from declining sales, filed for
reorganization in May 1997 in a bid to avoid bankruptcy and
announced restructuring plans involving the sales of its monitor
and computer network units.
(Maeil Business Newspaper, Korea)
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