Monday, April 21, 2008

Romania Aircraft Plant Up For Sale

21 April 2008
Bucharest _ A 64.89% share in the IAR Ghimbav aircraft maker has been put up for sale by Romania’s National Privatisation Authority.

The documents for the company's privatisation have been submitted to the Competition Council and the European Commission.

Talks have also been held with Brussels to ensure the deal is transparent and there is no unfair state meddling.

In assessing offers by investors, 95 percent of the final points are represented by the price of shares, and five percent by development expenses.

For participation in the negotiations, a business plan has to be submitted by the investor for five years, which will include the financing sources, and a development plan for the defence industry.

The National Privatisation Authority, AVAS has included in the contract non-negotiable conditions regarding the national economy and the defence industry.

The documents will be opened on June 23, in the presence of all potential buyers.

IAR Ghimbav, located in the centre of Romania near the city of Brasov, makes and repairs aircraft.

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