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  • Zenith Electronics Gets US$125 Million Loan From U.S. Banks
  • 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.
    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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    Nikkei BP BizTech, Inc.
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    Updated: Thu Jul 2 16:27:42 1998