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Inverstors News

Groundbreaking Ceremony for Hyundai`s New European headquarters

2002.03.08 No. 126
In his address to some 250 invited guests from the worlds of politics, trade and industry, Stefan Gieltowski, mayor of the town of Russelsheim, emphasized the significant momentum for the development of the region to a centre of industry ensuing from Hyundai`s decision.
Mong-Koo Chung, Chairman of Hyundai Motor Company, speaking on its behalf, emphasized in his welcoming address how important the European market is to the Korean car manufacturer, 30 per cent of whose sales come from exports. Last year the Hyundai Group sold no less than 2.5 million vehicles worldwide, putting it at seventh place in the ranks of car manufacturers. Chairman Chung went on to say that in the coming years Hyundai aims to achieve a leading position in Europe. Hyundai Motor Europe plans to sell over 300,000 vehicles a year in Europe in the near future.
All this made it necessary to expand the capacities of the European operations, established only last year. The Chairman said that the new construction planned on a 32 000 square metre site offered optimal conditions to realize this goal.
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