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S.C. Automobile Craiova S.A.
Type Public
Founded 1976 as Automobile România S.A.
Headquarters Craiova, Dolj, Romania
Industry Automotive
Products Automobiles
Parent Ford Motor Company
Website Automobile Craiova

Automobile Craiova is a Romanian car manufacturer located in Craiova, Romania. It is owned by Ford Motor Company.

Contents

History

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The beginnings

Automobile Craiova was founded in 1976 as a joint venture company between Romanian government (51%) and Citroën (49%). The factory produced cars under the Oltcit and Citroën brands.

The 1990s

After producing the Oltcit between 1981-1996, the company decided to go into partnership with the Korean Daewoo firm. The company was renamed Daewoo Automobile Romania in 1994 and by 1996 the factory (known as Oltena or Rodae) was producing the Tico , Cielo and Espero.

In 1997 a new engine and transmission factory was opened by the company, and by 2001 was also producing the Matiz and Nubira II. However, by this time, the main parent company in Korea had collapsed, due to financial problems in South Korea economy and over-expansion in Central Asia and Eastern Europe.

In 2002 General Motors bought the bulk of Daewoo Motor in South Korea, but did not buy the plants producing Daewoo cars in Romania, Uzbekistan or Poland. Due to this deal, the Romanian company was not allowed to export their products to neighbouring countries any more, or produce newer models by the new GM Daewoo Auto&Technology company.

To make matters worse for the company, General Motors starting selling the products of the GM Daewoo Auto&Technology company in 2003, under the Chevrolet brand.

Acquisition by Ford

In 2006 the Romanian government bought back the factory for US$60 million and a year later, in September 2007, Ford was interested to acquire a 72.4 percent stake in the company for 57 million euro. Ford announced that it intends to invest $675 million euro in the factory, which is supposed to build up to 300,000 cars a year and increase the number of employees from 3,900 to 7,000.[1]

As of May 2009, Ford Motor Company acquired a majority 95.63% stake in the company.[2] Ford Transit Connect (both, the passenger carrying and van models) is Ford's first model produced in Craiova, and will be followed, in 2010, by low-capacity car engines and a small class car, most probable the new Ford B-MAX.[3][4]

Models

References

External links


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