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Ford Buys Romanian Automobile Craiova Logo

Ford Buys Romanian Manufacturer

April 22, 2008

Ford was the sole bidder for Romania's Automobile Craiova and spent 57 million euros (about $78 million at the time) for the company and plans to invest another €675 million on improvements and expansion. The Romanian Parliament, happy to keep jobs in Romania, overwhelmingly approved the deal, while the European Union asserts the company was worth considerably more and has ordered the government to ensure Automobile Craiova pay the state for lost revenue.


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