Ford Otosan, which was founded in 1997 with the equalization of Koç Holding and Ford shares, recently announced that they have taken an important step towards globalization and agreed to purchase Ford’s Craiova factory in Romania. Expressing that they have taken an important step towards becoming a global automotive brand in this context, the company will make a major breakthrough in issues such as production capacity and employment with the agreement.
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Ford Otosan will start global production operations with Ford Romania
Ford Otosan announced that it has purchased Ford Romania, in a statement to the Public Disclosure Platform in the past few days. The company, which will pay a total of 575 million euros between 2022 and 2028 for this purchase, will make an additional payment of up to 140 million euros, depending on the projected capacity utilization rate for the years 2028 to 2034.
The full statement of the company to KAP is as follows;
According to the contract, 356 million euros will be paid at the closing, which is expected to take place in 2022, 196 million euros including interest in June 2025, and 23 million euros including interest in December 2028. An additional payment of up to 140 million euros can be made. The first payment amount to be made in 2022 will be subject to adjustments based on the net working capital, net debt and the amount invested in the Next Generation Courier project up to that date on the date of the transfer.
After the acquisition, Ford Otosan is preparing to increase its annual production capacity to 900 thousand and the number of employees to over 20 thousand. The company believes that its global production operations will increase the competitiveness of our country in this field.
So what do you think about this subject? Do you think this agreement made by Ford Otosan is an important move towards globalization? Do not forget to share your views with us in the comments section or on the SDN Forum.