Ford To Buy Off Former Daewoo Plant In Romania

While Ford’s cutting off plants in the States, in Europe, the American carmaker is planning to seal a deal for the Craiova plant in Romania at the Frankfurt Show on September 12. According to Automotive News, Ford Motor Company will disburse 57 million euros ($78 million) to obtain 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 plans to invest 675 million euros ($924 million) in the Romanian plant in order to increase annual capacity from 200,000 to 300,000.

Via: Automotive News (sub. Req)