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Oltcit
Oltcit S.A. (IPA: /olt.'sit/) was an automobile manufacturer, established as a joint venture between the Romanian government (64%) and Citroën (36%). Their main product was the Oltcit Club / Citroën Axel hatchback, assembled in Craiova, Romania. ==History== In 1991, as a result of the withdrawal of Citroën from the joint venture, the name of the company was changed to Automobile Craiova and production continued under the Oltena brand.〔Business operations report: Central Asia Economist Intelligence Unit (Great Britain) - 1999. "Daewoo Automobile Craiova The Oltcit legacy — Romania's other producer of passenger cars also derives from communist-era co-operation with a French carmaker, in this case Citroen, which in 1976 formed a joint venture in Craiova in the ..."〕〔Istvan Oliver Egresi, Geographical dynamics of FDI in Romania - Page 214. The University of Oklahoma, Department of Geography - 2008. "Automobile Craiova/Daewoo The story of Automobile Craiova begins in 1977 when the Romanian government contacted Citroen to establish a joint venture137 to manufacture a certain model of Citroen 138 renamed Oltcit 139."〕 In 1994, the company decided to go into partnership (49%-51%) with Korean company Daewoo Heavy Industries and Rodae Automobile was established, later renamed into Daewoo Automobile Romania.
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