Ford comes to terms with Romanian government over plant
The purchase of an automobile manufacturing plant in Romania by Ford Motor Company has been agreed upon by the country's government.Once it becomes fully operational, the Craiova site in the nation's south-west will roll out over 300,000 units per year.
Ford has added that it will cost them one billion Euros per year in order to keep the plant running, although employment prospects will double to 7,000.
Speaking on the firm's acquisition of the government's 72.4 per cent stake, Ford of Europe President and chief executive John Fleming commented its plans.
"We are acquiring a plant with a skilled and enthusiastic workforce and together we will work to transform the plant into an industry benchmark for vehicle manufacturing in Central Europe," he said.
Meanwhile, Ford has revealed that it is looking to sell its share in Jaguar, which it originally bought in the late 1980s.
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