Facilities for privatization of Daewoo Craiova car maker

Officials from Ford car maker company met with representatives of the Romanian Government to discuss the privatization of the Daewoo Craiova car producer on Tuesday. The Romanian PM expressed the Govt’s intention to speed the privatization process for which it would grant some extra facilities within the legal framework.

Stephen Biegun, vice-president of Ford Motors, and Lyle Watters, strategy director, took part to the meeting with the Romanian officials.

PM Calin Popescu Tariceanu said he wanted to create a powerful car industry in Romania as this is a great engine for the economic boost.

The plant in Craiova, southern Romania, was set up as a joint venture between the Korean Daewoo company and the Romanian government. It has the capacity to make 150,000 cars and 300,000 engines a year. Daewoo collapsed in 2000 and the Romanian government took over the plant in the beginning of September 2006.