Rodae

Last updated
RODAE Automobile Craiova S.A.
Type Joint venture
Industry Automotive industry
Predecessor Oltena
Founded1994
Defunct2008
FateChange of ownership
Successor Ford Romania
Headquarters,
Products Automobiles
Owner Daewoo 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]

Contents

History

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

  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.