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BUSINESS SHORTS

Kia Motors' Slovak plant officially opens

SOUTH KOREAN carmaker Kia Motors Slovakia officially opened its plant in Teplička nad Váhom in the Žilina Region on April 24.

The opening ceremony was attended by Hyundai-Kia Chairman Chung Mong-Koo, Prime Minister Robert Fico, former prime minister Mikuláš Dzurinda and other dignitaries, the TASR news wire wrote.

It was actually the plant's third opening. The first celebration took place in June 2006 when trial operation in the plant was launched. The second time the plant celebrated was in December 2006 when serial production started.

The plant in Teplička nad Váhom currently employs 2,300 people working in two shifts, with plans to increase the labour force to 3,000 and assemble 300,000 cars annually in 2009. The carmaker also plans to build a new hall for engine production. Kia's investments are projected to reach €110 million. In 2012, Kia maker could produce 600,000 engines in Žilina, of which one half will go to the Hyundai plant in the Czech Republic.

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