Ford will sign a deal for the Craiova plant in Romania at the Frankfurt IAA on September 12.
The US automaker will pay 57 million euros for a 72.4 percent stake in the former Daewoo plant. The remaining 27.6 percent is held by a variety of employee pension schemes.
Ford wants the Craiova factory to increase its production capacity in Europe. It plans to invest 675 million euros in the plant and build up to 300,000 cars a year. The factory currently has capacity to build 200,000 cars a year.
A source familiar with the deal told Automotive News Europe that there would still be some legal details to sort out once the deal is signed. The Romanian parliament intends to pass legislation that will limit Ford's potential liability once it takes over the plant.
Finnaly after a long time .. a straight answear. Hope to see the Factory from Craiova bigger and better than before.
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