Renault in Romania: Prospects and Challenges
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Code : COM0097
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Region : Romamia
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Renault: Company Profile Renault was founded in 1899 when Louis Renault and his brothers Marcel and Fernand established Renault Freres. They produced the world's first sedan in 1899. In 1908, the company was renamed as La Société Louis Renault. Renault built taxis, light tanks and airplane engines and later expanded its business into trucks, tractors, and aircraft engines. In the 1930s the company grew internationally and expanded into 49 countries. In 1938, it restructured its highly diversified businesses and focused more on car production... Romania: A Favorite Destination for Automobile Manufacturers Automobile manufacturers in Europe faced tighter profit margins and the need to be in close proximity to markets. Countries in Central and Eastern Europe has gained popularity among the automobile manufacturers as these countries offer them certain advantages which help them overcome these problems. Availability of highly skilled low-cost labor is one of the advantages... Renault in Romania Renault's association with Romania began in the 1970s when it entered into a licensing agreement with Romanian Government-owned car maker Dacia, for assembling different Renault models for the Romanian market. In 1998, the Romanian government decided to privatize Dacia and Renault decided to participate in the process of privatzation. Louis Schweitzer (Schweitzer), the then chairman of Renault, said, "If the privatization is carried out under conditions allowing us to turn this into a modern company, yes,we're interested." Renault bought a controlling stake of 51%in Dacia held by the Romanian Government in 1999... |
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