News:Argos:Ford Acquires Romania's Automobile Craiova

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Bucharest At a signing ceremony in Burcharest Friday, Ford Motor Company completed its take-over of Romanian car producer Automobile Craiova. Ford has acquired a 72.4 percent stake in Automobile Craiova for €57 million.

Prime Minister Calin Popescu Tariceanu, who attended the ceremony, said that Romania will now become the most important car producer in Southeast Europe.

Ford's plant in Craiova will have between 7,000 and 9,000 employees, he said.

Ford's president for Europe, John Fleming, said the first vehicle produced at Craiova will be the Transit Connect, which will be ready for production by the middle of 2009.

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