Monday, March 24, 2008

Companies Eye Romania Aircraft Plant

BalkanInsight.com

24 March 2008
Bucharest _ Fifteen Romanian and foreign companies have already obtained the presentation file of Avioane Craiova ahead of the April 17 deadline.

The companies interested in the southern Romania plant are Sweden’s Saab, Grampet Bucharest, the Czech Republic’s Aero Vodochody, Lord Expert Consult Romania, INAV Bucharest, IMA Metav Bucharest, Jafco Holding Romania, Pro Faur Invest Romania, Italy’s Alenia, MBL Computers Bucharest, Belgium’s Sabca, Somaca-Gosselies also from Belgium, SIF Oltenia, Safrom Trading Bucharest and Luxembourg’s International Railways Systems.

The winner will be chosen through negotiations based on irrevocable final bids.

Avioane Craiova had losses of 7.06 million lei (€ 2 million) in 2007, six times more than in 2006, while revenues declined by 7.5% to 24.24 million lei (€ 6.87 million).

The new owner will be obliged to maintain the activity of the company.

Avioane Craiova SA was set up in 1972 and started to produce aircrafts in cooperation with the former Yugoslavia.

Presently, Avioane Craiova produces the IAR-99 Soim advanced jet trainer, along with structural subassemblies for civil aircraft and fire-fighting equipment.

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