UPDATE 1-AUTOSHOW-Ford invests in Romania car plant http://www.reuters.com/article/tnBasicIndustries-SP/idUSL1275919820070912?sp=true
Wed Sep 12, 2007
(Adds further quotes and details)
FRANKFURT, Sept 12 (Reuters) - Ford of Europe (F.N: Quote, Profile, Research) signed a deal on Wednesday to acquire 72.4 percent of a Romanian car plant that Chief Executive John Fleming said would be used to boost its growth in Europe but not to make a new cheap car.
"We will make 300,000 cars and 300,000 engines per year at the plant. I cannot give you details of the models ... but we will not use the plant to make an ultra-low cost car," Fleming said of the Craoiva purchase. France's Renault (RENA.PA: Quote, Profile, Research) owns Romania's Dacia which makes the Logan no-frills car. http://www.reuters.com/article/tnBasicIndustries-SP/idUSL1275919820070912?sp=true