Hyundais Czech plant gets go-ahead to build gear box unit.

By bne IntelliNews June 8, 2011
The Czech unit of South Korean auto maker Hyundai has received permission from the regional administration to start building a gear box production hall at its plant in Nosovice, Ceska Pozice reported. The new unit will be opened in the autumn of 2012 and will help the company raise its annual capacity to 500,000 gear boxes from 300,000. Hyundai Motor Manufacturing Czech (HMMC) plans to invest CZK 3.5bn to raise its car capacity to 300,000 from 200,000 and employ 650 new employees by end-2011 and another 250 in 2012. HMMC reported a profit of USD 109.6mn in 2010 after a loss of USD 90.7mn in the previous year. The company produced 200,135 cars at its Nosovice plant in 2010, up by 70% y/y.

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