Ford committed to invest €675 Mill. in
Craiova Plant in Romania in case of winning the bid
Ford Motor Company would develop the
Craiova manufacturing plant in Romania into one of the major
facilities supporting Ford of Europe's vehicle and engine
production requirements, the company said today.
Ford’s strategy for the Craiova plant
was discussed today at meetings in Bucharest with Ford of Europe
President and CEO John Fleming, Romania Prime Minister Calin
Popescu-Tariceanu and members of the privatization committee for
Automobile Craiova. Ford submitted its bid for the plant on July
If the Ford bid is successful, the
company would commit to investing €675 million in the site to
upgrade and modernize the plant in line with global Ford Motor
Ford’s plans also include increasing
employment levels from 3,900 now to 7,000 – and potentially up
The existing and additional workforce
would be producing 300,000 vehicles a year, together with a
further 300,000 engines annually, according to Ford’s plans. In
2006, the plant made 24,000 vehicles and 116,000 engines.
"By 2012, we would expect to be
spending around €1 billion a year in Romania to support the
Craiova plant," said Fleming. "We are excited about the
opportunity for Craiova. But there is still much hard work to be
done before a final agreement is reached.
“During our negotiations with the
privatization committee, we will be emphasizing how important
the Craiova plant is to Ford’s long-term strategic manufacturing
plans," Fleming added.
July 16, 2007