Posted on 04/25/2007 5:43:04 PM PDT by Grzegorz 246
BRATISLAVA, Slovakia (AP) -- Kia Motors Corp., South Korea's second-largest automaker, officially opened Tuesday a euro1 billion (US$1.36 billion) plant in Slovakia and said it planned to invest another euro100 million (US$136 million) in the country, an official said.
The plant, located near the northwestern city of Zilina, is the company's first in Europe. Though it was unveiled Tuesday, production began in December, said Dusan Dvorak, the plant's spokesman.
The maximum capacity of 300,000 cars a year is expected to be reached by 2010 and the factory will create 3,000 jobs, Dvorak said. This year, it plans to produce 150,000 cars, he said.
Kia also plans to invest euro100 million (US$136 million) to double its car engines production at the Slovak plant to 600,000, Dvorak said.
Kia is an affiliate of South Korea's largest carmaker, Hyundai Motor Co. and the increased capacity was needed for a new car plant in the neighboring Czech Republic which Hyundai begins to build Wednesday, he said.
During the opening ceremony Tuesday, Kia and Hyundai also signed a sponsorship deal with UEFA, Europe's soccer governing body, for the 2008 European Championship, Kia said in a statement. Financial details were not disclosed.
The carmakers will be among global sponsors for the June 7-29 tournament in Switzerland and Austria together with BenQ Corp., Carlsberg, Coca-Cola, JVC, MasterCard, McDonald's, Adidas, Continental and Castrol.
South Korea building and selling automobiles and having many other industries and North Korea starving and dark at night.
How can Kim Il Jog keep North Koreans from dragging his sorry butt through the streets by the heels.
Surely some of them must know they are starving and living like crap because of his stupid policies.
Good news! Thanks for posting.
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