Ford to invest €675 mln to modernize Craiova plant


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 yesterday.

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 5. If the Ford bid is successful, the company would commit to investing €675 million ($931 million) in the site to upgrade and modernize the plant in line with global Ford Motor Company standards. Ford's plans also include increasing employment levels from 3,900 now to 7,000 – and potentially up to 9,000.

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. (


Business confidence falls slightly in June Analysis

Business confidence falls slightly in June

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.