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July 11, 2007

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Ford Motor Company plans to purchase Romanian auto assembly plant

Ford Motor Company's bid for the Automobile Craiova assembly plant in Romania has been handed over to the Romanian Authority for State Assets Recovery, meeting the July 5 deadline for bid submissions. The bid was formally opened by the Privatisation Commission at an event in Bucharest today.

Ford's Plant in St. Petersburg, Russia

"We are pleased to confirm that we have submitted our bid to purchase the Romanian auto plant in Craiova," said Ford of Europe President and CEO John Fleming. "Although it is too early to discuss specifics of our proposal, we believe it offers the best combination of financial, technological and environmental commitments under which Ford would turn the Craiova facility into a highly innovative world-class manufacturing complex with significant employment opportunities."

At today's bid opening event in Bucharest, Lyle Watters, Ford of Europe's Director for Business Strategy said: " For more than two years, we have maintained a strong level of interest in the Automobile Craiova facility. We have visited the plant on several occasions and met with management and Union leaders. Now, we are very excited to arrive at the point where we can share our long-term strategic plan with the Privatization Committee".

"Our goal is to provide the people of Romania with exciting, locally-produced and high quality Ford vehicles, as well as to develop a significant export market for those vehicles that will contribute positively to the Romanian economy," Watters added.

Ford believes the facility in Craiova is a strategically important site for the company's future growth. Ford of Europe produced 1.86 million units at seven assembly plants in 2006 and additional manufacturing space is needed to meet its ambitious new product and growth plans.

"If we are successful in our bid, we would expect to expand and improve the Craiova manufacturing operations, increase employment and attract additional suppliers to the area," said Fleming.

Success for Ford would also allow the company to become an integral member of the Romanian community.

"We see it as our corporate responsibility to make a positive contribution to life in the communities where we operate," said Fleming. "We have demonstrated this already in countries as diverse as Germany, Britain, Belgium, Turkey, Russia and Spain, proving that Ford not only builds great vehicles but also is a good neighbour and committed corporate citizen."

July 6, 2007

Photos: Ford

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