- Official signing ceremony to take place in Slovakia on March 17 for
Kia’s €700 million European assembly plant investment
- Ceremony to be attended by senior Kia and Slovakian officials
(Seoul) March 10, 2004 - Kia Motors Corporation (KMC) will hold a signing ceremony on March 17 in Bratislava, Slovakia to officially authorize the construction of Kia’s €700 million automotive assembly and manufacturing plant in the Slovak Republic. The facility ? which will be owned and operated by Kia ? will begin production in late 2006 and produce 200,000 Kia vehicles per year at maximum capacity.
Kia’s first assembly and manufacturing plant in Europe will be built on 150 hectares in Slovakia’s Zilina region and will create approximately 2,400 plant jobs.
The decision by KMC to build the new facility was based on continued strong sales and market share growth in Europe. Kia is currently Europe’s fastest-growing automotive brand, and one of the fastest-growing in the world. Last year in Europe, Kia sold a record 150,000 vehicles and this year plans to export over 240,000 vehicles.
“Kia’s decision to build this facility in Slovakia underscores Kia’s commitment to the European market,” said Yong-Hwan Kim, Kia’s Chief Operating Officer. “European consumers have increasingly placed their trust in Kia automobiles, as witnessed by our track record of strong sales growth over the last several years.”
Kim also commented that “Our new plant in Slovakia will exclusively manufacture Kia cars and that the €700 million investment in the new facility will be exclusively made by Kia.”
“Our new plant will allow Kia to build more vehicles for this growing market and get them to our customers more quickly while continuing to produce the high-quality, well-styled, high value products our customers have learned to expect from Kia,” Kim added.
An official groundbreaking for the new Kia plant is scheduled for April. That event will also be attended by leading executives from KMC as well as Slovak government officials and dignitaries.
Founded in 1944 and now celebrating its 60th anniversary, Kia Motors Corporation (www.kiamotors.com) is Korea’s oldest manufacturer of automobiles. As part of the Hyundai-Kia Automotive Group, Kia is among the world’s fastest growing automobile companies and aims to be a top five global automaker by 2010. Kia’s 15 manufacturing and assembly operations in 12 countries make more than a million vehicles a year that are sold and serviced through a network of distributors and dealers covering 190 countries. Kia today has 30,000 employees and annual revenues of $12 billion. It is the major sponsor of the Australian Tennis Open and an international sponsor of the Davis Cup.