MUNICH, Germany (AP) - BMW's chief executive told shareholders today that aintaining its operations in South Carolina is a long-term strategy.
Norbert Reithofer says BWM must be active in the world's largest car market in order to be successful. BMW announced earlier this year that it would take advantage of the weak dollar by expanding production at its plant in Greer. It's spending 750 million dollars to expand facilities for its X5 sport utility vehicle and the new generation of its X3 SUV. The company plans to increase production in Greer from 160,000 vehicles a year to 240,000 annually by 2012.
Reithofer says he wants to increase purchases from suppliers in South Carolina. He says North America purchases are being made for its plants in Europe.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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