ISTANBUL -- Ford Motor's Turkish joint venture will buy Ford's Craiova plant in Romania for 575 million euros ($630 million).
Ford Otosan was already set to boost annual production capacity to 650,000 from 455,000 with a 2 billion-euro ($2.2 billion) investment plan, with production of the next Transit Custom van staring next year along with a version for Volkswagen.
The output will eventually rise to 900,000 units per year with the addition of Craiova into the joint venture.