Automobile Craiova privatization, concluded


The Authority for State Assets Administration (AAAS) and Ford signed the documents for the conclusion of the privatization of Automobile Craiova. “By signing these documents, we can say the bases are set for the conclusion of the privatization process of Ford. Through the investment exceeding USD 1 bn more than half of which represent the technological investments, the company created a larger regional development background preserving the jobs here and it is a strategic partner in the area,” said AAAS chairman Nicolae Minea in a release. The US group Ford took over the company Automobile Craiova company in 2007 paying EUR 57 M for 72.4 pc of the shares.