Embassy Press Release

US Ambassador Nicholas Taubman Hails Craiova Agreement

September 12, 2007

Ambassador Nicholas F. Taubman, attending the Frankfurt International Motor Show on September 12 at the invitation of Romanian Prime Minister Calin-Popescu Tariceanu, hailed today's signing of the purchase agreement between Ford Motor Company and the Government of Romania for the Government's stake in Automobile Craiova.

"I was delighted to witness today's signing. Ford is much more than an American company. It is a world leader in automotive manufacturing, and its investment in Automobile Craiova represents a significant vote of confidence in the Romanian business environment and in Romania's place in the global economy.

"This signing could not have come to fruition without the leadership of the Romanian authorities, especially Prime Minister Tariceanu. With this milestone, Romania continues to advance its vision of an export-driven, modern industrial sector that will create new jobs, boost productivity, and foster economic development. Ford's presence will have a broad, ripple effect on Romania's economy as a whole, spurring growth and serving as a magnet for upstream investments."

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