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Halla's buoyant stand despite Korean crisis

BOSSES at plant manufacturer Halla Euro Enterprise said it is business as usual despite the

financial collapse of their Korean parent company.

Halla moved into the UK construction market when it opened an £18.6 million factory at Merthyr Tydfil, Wales, last year. The parent company became a victim of the financial turmoil in Korea this week when it applied for court protection and started widescale restructuring following trading difficulties.

The company was forced to default after its creditor banks pulled the plug on loans.

A Halla spokesman said the UK operation was a separate trading company which would not be

affected by the problems in Korea.

He said: 'At this time I would like to assure our staff, dealers, customers and suppliers that we will protect them and we will continue trading as normal in the UK, Europe and Africa.'

Halla assembles excavators, wheeled loaders and forklift trucks at its Welsh plant and employs 180 people.