The US car maker Ford has taken over the Romanian car factory Craiova. Ford plans to invest some 675 million Euros in upgrading and modernizing the automobile plant. The signing between top executives of Ford and Craiova took place at the Frankfurt International Motor show.
The president of Ford said that moving to Romania allows them many opportunities. The American automobile company says that the first car to be manufactured at the Romanian factory should be delivered in about two years. The Romanian government notes that the sale of the Craiova car company is the most important privatisation in Romania this year. The Romanian factory produced twenty four thousand Daewoo cars last year.