Founded in 1997 with the equalization of Koç Holding and Ford shares, Ford Otosan has recently taken an important step towards globalization and agreed to purchase Ford’s Craiova factory in Romania. announced that they have 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.
Ford Otosan will start its 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 hours. 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 the Public Disclosure Platform is as follows;
In accordance with the contract, 356 million euros will be paid in the Closing, which is expected to take place in 2022, 196 million euros including interest will be paid in June 2025, and 23 million euros will be paid in December 2028, including interest. Depending on the capacity utilization rate foreseen for the project, an additional payment of up to 140 million Euros may 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.
Ford Otosan, after the purchase, has an annual production capacity of 900 thousand, It is preparing to increase the number of its 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 issue? 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.
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