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Rodae

From Wikipedia, the free encyclopedia
RODAE Automobile Craiova S.A.
Company typeJoint venture
IndustryAutomotive industry
PredecessorOltena
Founded1994
Defunct2008
FateChange of ownership
SuccessorFord Romania
Headquarters,
ProductsAutomobiles
OwnerDaewoo Heavy Industries (51%)
S.C. Automobile Craiova S.A. (49%)

Rodae (officially RODAE Automobile Craiova S.A., and later Daewoo Automobile Romania S.A.) was a joint venture between S.C. Automobile Craiova S.A. and Daewoo Heavy Industries that started in 1994.[1]

History

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In November 1994, Daewoo opened a production line in Romania, becoming the country's most important foreign investor, by establishing a joint venture, created by Automobile Craiova and the South Korean Daewoo group.

In 2006, Daewoo Automobile Craiova S.A. bought back 51% of the shares owned by the Korean company, which became 100% owned by the Romanian state.[2]

In 2008, it was sold to Ford of Europe, a division of Ford Motor Company.[3]

Models

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References

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  1. ^ "Oltcit". automobileromanesti.ro. Retrieved July 23, 2022.
  2. ^ "Daewoo Romania a revenit in proprietatea statului roman". ziare.com. Retrieved July 23, 2022.
  3. ^ "Ford a cumparat Daewoo Craiova". paginiromanesti.ca. 15 September 2007. Retrieved July 23, 2022.
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