Management 450 Article Summary of

Management 450 Article Summary of - roughly 9,000, and will...

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Matthew Davidson MGMT 450-501 March 24, 2008 Management 450 Article Summary of: “Romania Hands Keys to Ford” The Ford Motor Company took control of the Romanian automotive plant, Automobile Craiova, on Friday, March 21 st . Ford bought a 72.4% stake in the government-owned plant last year, paying over $88 million and promising to pay another $1 Billion for expansion and renovations. Ford’s investment, in conjunction with the preexistent Dacia Plant, has made Romania the single biggest car producer in southeastern Europe. Ford Motor Company says that it will boost local employee numbers from 3,900 to
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Unformatted text preview: roughly 9,000, and will look to begin production of vehicles in 2009, with a small, affordable spacious car. Ford is aiming at producing 16,000 vehicles in 2009, and working its way up to 300,000 vehicles within four years. The Prime Minister Calin Popescu Tariceanu is happy with the exchange of control, and looks forward to the business and competition that Ford will bring to Romania. He says: “I believe that the presence of two carmakers in our market will encourage interests in others.”...
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This note was uploaded on 03/25/2008 for the course MGMT 450 taught by Professor Staff during the Spring '08 term at Texas A&M.

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