210px|Ford Motor Company logo.The location of the future Ford factory in Romania 57 Million Euros (78 Million US Dollars). This is the sum U.S. car maker Ford Motor Co. will pay for a 72.4 percent stake in the Romanian assembly plant Automobile Craiova, Romanian official said Friday. "The offer of Ford Motor Company for a 72.4 percent stake is 4.1556 Euros per share or 57 million Euros overall," said Sebastian Vladescu, head of the State Property Agency (AVAS), after opening Ford's improved offer. Vladescu added that the contract may be signed on September 12, during the auto show in Frankfurt. The Romanian government bought back the Craiova-based car maker from its Daewoo Motor, in late 2006 for $51 million. As the Korean company was bankrupt, the government had to pay another $ 10 million for debts stemming from past loans. The American company is the only bidder for the purchase of the factory. According to Washington Post, many auto-part makers have set up in the new European Union member country, attracted by cheap labor, favorable tax rates and the rising output of Renault's Dacia plant. The vice president of Dacia, Constantin Stroe, said that the price Ford offers is not important. "It's important to have the factory working as soon as possible", he added. "With this production facility, Romania will become an important auto production center in Europe", concluded Stroe, cited by HotNews.
210px|Ford Motor Company logo.The location of the future Ford factory in Romania Ford Motor Company, the U.S. car maker , will reportedly pay € 57 million (US$78 million) for a 72.4 percent stake in the Romanian assembly plant Automobile Craiova, a Romanian official said Friday. "The offer of Ford Motor Company for a 72.4 percent stake is €4.1556 per share or €57 million overall," said Sebastian Vladescu, head of the State Property Agency (AVAS), after opening Ford's improved offer. Vladescu added that the contract may be signed on September 12, during the auto show in Frankfurt. The Romanian government bought back the Craiova-based car maker from Daewoo Motors, in late 2006 for US$51 million. As the Korean company was bankrupt, the government had to pay another 10 million for debts stemming from past loans. Ford is the only bidder for the purchase of the factory. According to Washington Post, many auto-part makers have set up in the new European Union member country, attracted by cheap labor, favourable tax rates and the rising output of Renault's Dacia plant. The vice president of Dacia, Constantin Stroe, said that the price Ford offers is not important. "It's important to have the factory working as soon as possible", he added. "With this production facility, Romania will become an important auto production center in Europe", concluded Stroe, cited by HotNews.
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Euros overall," said Sebastian Vladescu, head of the State Property Agency (AVAS), after opening Ford's improved offer. Vladescu added that the contract may be signed on September 12, during the auto show in Frankfurt.
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The Romanian government bought back the Craiova-based car maker from its Daewoo Motor, in late 2006 for $51 million. As the Korean company was bankrupt, the government had to pay another $
(US$78 million) for a 72.4 percent stake in the Romanian assembly plant Automobile Craiova, a Romanian official said Friday. "The offer of Ford Motor Company for a 72.4 percent stake is €4.1556 per share or €57 million overall," said Sebastian Vladescu, head of the State Property Agency (AVAS), after opening Ford's improved offer. Vladescu added that the contract may be signed on September 12, during the auto show in Frankfurt. The Romanian government bought back the Craiova-based car maker from Daewoo Motors, in late 2006 for US$51 million. As the Korean company was bankrupt, the government had to pay another
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