EnglishFord România will increase its share capital by 250 million Euros, after having received the approval of the Board of Administration Automobile Craiova (ACSA) yesterday, representatives of Ford Romania confirmed. Through this capital increase, Ford makes available an important amount needed for fulfilling the commitments taken through the Privatization Contract, which involved a 675 million Euro investment for turning the Craiova plant into a cutting edge car production center. Thus, Ford is keeping its commitments to the Craiova car factory.
Ford România has decided to increase the share capital by another 250 million Euros of the share capital, up from less than 10 million Euros. The amount will become available in the next days and will be used for the modernization of the car factory in Craiova.
Last year, officials of Ford Europe said that the model "Ford Transit Connect" will be made in Craiova, starting in 2009, with a new small class car to begin production in Romania in 2010.
In March 2008, Ford Motor Company has become the majority owner of "Automobile Craiova".
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