Ford Investment Spurs Interest In Romanian Car Mkt

Ford buyout of Romania’s Automobile Craiova assembly plant spurred interest in the Romanian auto market among large international players, head of privatization authority Teodor Atanasiu said Saturday.

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He said two carmakers announced their intention to invest in Romania this summer, but declined to give any names.

“I wish to say one thing. Ford’s coming to Craiova triggered the arrival of many investors in the car industry. It is a rush for production spaces or strategic lands with access to utilities and proper workforce and I believe the Romanian car industry will see an accelerated growth in the upcoming period,” Atanasiu said in a press conference.

Ford will take over Automobile Craiova on March 21, member of Automobile’s privatization commission Mihai Voicu said last week.

"There hasn’t been set any schedule yet, but Prime Minister Calin Popescu Tariceanu and Ford Europe president John Fleming will be in Craiova then. Practically, on March 21, the privatization process will be concluded,” Voicu said.

In September last year, Ford agreed to pay EUR57 million for a 72.4% stake in state-run Automobile Craiova and pledged to invest another EUR675 million to upgrade the plant.

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