Ford Buyout Of Romania’s Automobile To Be Concluded Mar 21

Ford Motor Co. (F) will take over Romania's Automobile Craiova assembly plant on March 21, member of Automobile’s privatization commission Mihai Voicu said Tuesday.

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"There hasn’t been set any schedule yet, but Prime Minister Calin Popescu Tariceanu and Ford Europe president John Fleming will be in Craiova then. Practically, on March 21, the privatization process will be concluded, Voicu said.

In September last year, Ford agreed to pay EUR57 million for a 72.4% stake in state-run Automobile Craiova and pledged to invest another EUR675 million to upgrade the plant.

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