Daewoo has announced the sale of its Worthing Technical Centre, in Sussex, to engineering group TWR for an undisclosed sum.
As part of Daewoo Motor's global restructuring plan, the company has been seeking a buyer for the facility. Daewoo will now consolidate its research and development operations in South Korea in line with rescue measures approved by the Korean courts.
All the staff at the centre have been transferred to TWR.
Daewoo Motor commenced engineering operations in Worthing in 1994 and, following a significant investment, created a European research and development facility. The centre has worked on Daewoo products such as the Matiz city car as well as some concept cars and future technology.
Designs for future Daewoo product, as well as new techniques for proving, verification and simulation will take place at the Bupyong Technical Centre in Seoul.
Daewoo Motor's ongoing operation is unaffected by the sale of the Worthing Technical Centre.