Hyundai Motor America 10550 Talbert Ave, Fountain Valley, CA 92708 MEDIA WEBSITE: HyundaiNews.com CORPORATE WEBSITE: HyundaiUSA.com FOR IMMEDIATE RELEASE GROUNDBREAKING CEREMONY FOR HYUNDAI'S NEW EUROPEAN HEADQUARTERS Miles Johnson Senior Manager, Quality, Service and Technology (714) 3661048
[email protected] ID: 28909 Korean car manufacturer aims to achieve leading position March, 8, 2002 With the groundbreaking for the new building in the “Blauer See ”industrial area in Russelsheim, Hyundai Motor Europe GmbH has given the goahead for the expansion of its European research &development and design activities. Some 300 employees will be working there in the medium term. Besides a research & development and design centre, the new premises will also house the European Sales and Marketing Operations. A total of some 50 million euro is being invested in the new complex, whose completion is scheduled for June 2003.Hyundai decided to build this new headquarters because the premises in Eschborn, it moved into only last year, offer no scope for further expansion. 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. MongKoo 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.