In November 1994, Daewoo established the production facilities in Romania, becoming the most important foreign investor of the country at that time. The historical background of the automotive industry was for DAEWOO one of the reasons to start in Romania. Oltcit plant, with a technical level equal with the western ones, was built to produce more than 100.000 vehicles/year. The built area reached 350.000 sqm. The new paint mixing room was built in 1996, and in 1997 the new aluminium foundry. From among the 50 buildings, 228.00 sqm. are earmarked for the production (press shop, body shop, paint shop, T/C final, engine and T/A, parts shop and aluminium foundry). AUTOMOBILE CRAIOVA S.A. company - with completely owned state capital- was established trough the Government Decision no.
499/1991 as a result of the withdraw of CITROEN company from OLTCIT S.A. joint- venture.
The participation to the social capital -"Automobile Craiova S.A." 49%- and "DAEWOO" 51% is performed in different ways. DAEWOO AUTOMOBILE ROMANIA S.A. is the first of DAEWOO's triangle of Eastern European motor vehicle production plants - the others are in Poland and the Czech Republic - to formally go into operation.
DAEWOO AUTOMOBILE ROMANIA S.A. witch now has a yearly production capacity of 100,000 units, expects to produce both for the Romanian market and for the export to nearby countries. DAEWOO expects to invest a total of $900 mill. into the Romanian facilities and is providing technical and financial support to Korean component vendors to bring localisation of the component production up to a full 80% by the year 2000. DAEWOO began renovating existing facilities with advanced mass production systems, and beginning in March 1995, dispatched more than 1.000 Romanian engineers and production workers to its Korean facilities for training. DAEWOO AUTOMOBILE ROMANIA S.A. now employees about 5.000 people