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Reuters UK
Reuters UK
ISTANBUL (Reuters) – Ford Motor Co’s Turkish joint venture will buy the U.S. company’s Craiova plant in Romania for 575 million euros ($630 million) and plans to move Courier van production there, the company said on Monday. Ford Otosan, the joint venture with Turkey’s Koc Holding, will pay an additional 140 million euros to Ford over the next decade according to certain capacity utilisation criteria, the company said. Ford Otosan shares jumped 8.5% to 264.7 liras in response. The Romanian plant produces Puma and EcoSport passenger models. It will begin production of the Courier along with Pum…