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EUROPE: "European Auto Production in Line with Q3 Estimates (2013)" report

EUROPE: "European Auto Production in Line with Q3 Estimates (2013)" report. 4-page report by BAIRD.

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back to index backEUROtalk October,  2005

Hyundai Settles on Ostrava as Site for Czech Plant, But Farmers Won't Sell It Land

Hyundai settled on the city of Ostrava, 150 miles east of Prague, as the site for the new European plant for which it announced plans a couple of weeks ago (JAD 10/3).

But the Korea Times, which is the English edition of the Hankook Ilbo said it has run into resistance there from a collective farm whose members don't want to sell. The paper said a Hyundai official told it the farmers are claiming their land is owned by the state,” so they are protected.

Similar Roadblock

Subsidiary Kia ran into a similar roadblock a couple of years ago when it sought a site for its new plant at Zilina, about 40 miles to the south in neighboring Slovakia, and eventually had to get the government to intervene. The paper said Hyundai officials told it they, too, plan to work with the local government to try to persuade the farmers to let them have the land they need.

But they added that the delay will inevitably push back opening of the unit. Hyundai says it plans to invest about €1 billion ($1.2 billion) to put up a 300,000 a year facility that would serve the European market. It hopes to begin construction next year, and have the facility on line by late 2008.

To request a free, sample copy of the Japan Automotive Digest, click here.

Source: The Japan Automotive Digest - GAI

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