Ford Motor To Buy Romania’s Automobile March 21

The privatization offer was supposed to expire on March 14, Atanasiu said.

 

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

 

"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.