BMW AG is studying potential sites in emerging markets, which the company now refers to as BRIKT, for its two new plants. At the company’s annual shareholders meeting in Munich, Chief Executive Officer Norbert Reithofer presented the plans for plant expansion.
Currently, the company continues to study locations for a factory in Brazil. This expansion plan has already been disclosed last March during the press conference for the company’s annual financial results.
In addition, the company is evaluating sites for the second plant in Russia, Korea, India or Turkey. Previously, the company used the term BRIC to refer to developing markets, which are Brazil, Russia, India and China. Now, the company uses BRIKT, which removes China from the picture and adds Korea and Turkey.
On another note, the company is planning to pay a record profit-sharing bonus this 2011 based on the results last 2010. For this matter, employees under collective-bargaining deals will have an average of 5,840 euros, which is an amount that is 1.6 times the monthly wages.
The company confirmed its target of increasing its profit for this year, selling more than 1.5 million cars, which is an increase from the 1,461,166 BMW, Mini and Rolls-Royce units sold last year. The best sales year ever for BMW Group was 2007 when it recorded sales of 1,500,678 units from its three brands.