October 25 (SeeNews) - Turkey's Ford Otosan said on Wednesday that new generation Transit Courier and Tourneo Courier models have started rolling off the production line at their factory in Craiova, Romania.
The Craiova plant is the company's sole global manufacturing hub for the two models, Ford Otosan announced on LinkedIn.
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In March 2021, Ford Motor Company announced that it would transfer the ownership of the Craiova assembly plant to its strategic partner Ford Otosan. In a separate press release, Ford Otosan said that the transaction value is 575 mllion euro, plus a conditional additional payment of 140 million euro. The European Commission approved the acquisition in June 2023.
Ford Motor Company and Turkish industrial conglomerate Koc Holding hold stakes of 41% each in Ford Otosan, while the remaining 18% is in free float on the stock exchange in Istanbul, according to the company's website.