Daewoo automobiles
| SC Daewoo Automobile SA Romania
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|---|---|
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| legal form | Societatea Anonimă |
| founding | 1994 |
| resolution | 2007 |
| Seat | Craiova , Romania |
| Branch | Automobile manufacturing |
SC Daewoo Automobile SA Romania is a former automobile manufacturer from Craiova , Romania .
history
The company was formed in 1994 through the formation of a joint venture between Automobile Craiova and Daewoo , which took a 51 percent stake. For an investment of more than $ 800 million, Daewoo received seven year import duty exemption and five year corporate tax exemption. Other sources give investment sums of $ 700 or $ 900 million.
After Daewoo's bankruptcy in Korea in 1999 and its takeover by General Motors in 2002 , GM appeared to have no interest in the Romanian plant, although it was profitable and had steadily increasing sales.
In September 2006, the Romanian government acquired Daewoo's shares for USD 60 million. In September 2007, Ford was the sole bidder to acquire 72.4% of Automobile Craiova's capital for $ 57 million, with a commitment to invest $ 675 million in production facilities and create additional jobs. Ford took over the majority of both Automobile Craiova and Daewoo Automobile.
At the time of the takeover by Ford, the Craiova plant was stated to have an annual production capacity of 100,000 vehicles, 150,000 engines and 200,000 transmissions.
Web links
- Website from the Internet Archive ( Memento of February 3, 2007 in the Internet Archive )
Individual evidence
- ↑ a b State aid - Romania. State aid C 39/08 (ex N 148/08). Training grant for Ford Craiova. Call for comments under Article 88 (2) of the EC Treaty (Text with EEA relevance) (2008 / C 270/13). In: Official Journal of the European Union. October 25, 2008. Retrieved November 11, 2018 .
- ↑ a b c Istvan Egresi: Foreign Direct Investment in a Recent Entrant to the EU . The Case of the Automotive Industry in Romania. In: Eurasian Geography and Economics . tape 48 , no. 6 , 2007, p. 748-764 , doi : 10.2747 / 1539-7216.48.6.748 .
- ^ Ionut Ceaușescu: The Role of Foreign Direct Investment in the Automobile Industry in Romania . In: Annals of the "Constantin Brâncuşi" University of Târgu Jiu, Economy Series . tape 4 , 2015, p. 311-316 .
- ↑ Petr Pavlínek: Restructuring the Central and Eastern European Automobile Industry . Legacies, Trends, and Effects of Foreign Direct Investment. In: Post-Soviet Geography and Economics . tape 43 , no. 1 , 2002, p. 41-77 , doi : 10.1080 / 10889388.2002.10641193 .
