Romanian Pres Comments On Ford-Automobile Craiova Sale Contract

According to Basescu, on visit to Craiova, southern Romania, thirteen of the annexes to sale contract of Automobile Craiova to Ford include classified information and some of them are even labeled “classified.”

"The classified annexes include information on Ford’s business plans and I think it is only fair to be kept secret, but there also are many other annexes labeled “classified” and I do not understand why.” For instance, talks should be held on whether to keep secret the wages of the Romanian representatives in the managing boards or the environmental investments. However, the sale contract was approved in Parliament and it so it stays," Basescu told a press conference Friday before the ceremony celebrating the sale of Automobile Craiova to Ford.

Basescu said that the Automobile Craiova sale is part of the strategic partnership with the USA, which was debated with US President George Bush in 2005.

Basescu stressed that Ford’s presence in Craiova represents an investment that will contribute to the economic growth of Craiova town, while the signing of the sale contract "is part of the strategic partnership with the USA.”

Basescu also mentioned the investments of US companies Oracle and Smithfield in Romania.

Basescu reached Craiova Friday morning to attend the ceremony celebrating the sale of Automobile Craiova to Ford.

The ceremony starts at 12:00 local hour and it will also be attended by Prime Minister Calin Popescu Tariceanu and Ford Europe president John Fleming.

According to Laszlo Gyerko, vice-president of the country’s privatization authority AVAS, Ford paid EUR57 million for the 72.4% stake in Automobile Craiova late Wednesday.

In September 2007, Ford agreed to pay EUR57 million for a 72.4% stake in Automobile and pledged to invest another EUR675 million to upgrade the plant.