AFP (Bratislava) - South Korean car maker Kia Motors said Thursday its Slovak plant raised profits, sales and output last year against 2009 when the global downturn hit demand for cars produced here.
The Slovak facility raised net profits to 42.9 million euros (60.6 million dollars) in 2010 from 25.9 million euros in 2009 on a growth in sales to 2.8 billion euros from 1.7 billion euros.
The plant based near Zilina, northern Slovakia turned out 229,500 cars last year, well up from the 150,000 units produced in 2009.
"Last year was very positive for us as we managed to exceed our production plan," said Kia Motors Slovakia chief executive Myung-Chul Chung.
Kia said it expected to raise production in Slovakia to 240,000 vehicles this year.
Car production at plants run by Kia, Germany's Volkswagen and France's PSA Peugeot Citroen is the key engine of Slovakia's economy, which grew by 4.0 percent in 2010 after a 4.8-percent contraction the year before.
The Slovak plant making the Kia cee?d, Kia Sportage and Hyundai ix35 models exports 99 percent of its production, mostly to Russia, Great Britain and Germany.
It also produces engines for a plant run by its sister firm Hyundai in the neighbouring Czech Republic, about 60 kilometres (40 miles) from the Slovak factory.
Kia, which launched production in Slovakia in 2006 and currently employs 2,900 people in the ex-communist country, said it raised engine production in Zilina by 31 percent year-on-year to 320,900 units in 2010.
