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Article: Ford Tends to Romania - Analyst Blog
- Article from:
- Zacks Investment Research - Analyst Blog
- Article date:
- September 10, 2009
- Author:
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Ford Tends to Romania - Analyst Blog
Ford Motor
(
F
) recently said that it would begin production of its new compact van, Transit Connect, in Craiova, Romania. Two years ago, the company bought a 72.4% stake in the state-owned Automobile Craiova for $88 million. At that time, it had promised to invest $1 billion to upgrade and expand car production in Romania. Therefore, the announcement is a step towards fulfillment of that objective.
Ford’s decision will no doubt be a boon for the Romanian economy, which has been going through tough times. In March, the International Monetary Fund provided the country with $17.1 billion in bailout fund to pull it out of a financial ...