Romanian Avioane Craiova Privatization Process To Continue - Econ Min

The privatization process of Romania’s airplane maker Avioane Craiova (AVIO.RO) will continue, after it was transferred from Romanian Privatization authority AVAS to the Ministry of Economy, which became its majority shareholder, the ministry’s press office announced Thursday.

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Avioane Craiova trade union leader, Victor Peta, has recently stated that the situation of the companies in AVAS portfolio was uncertain, adding that it would be "normal and fair" for the privatization process to be continued by the new majority shareholder.

On December 9, 2008, AVAS postponed for the second time the bid submission deadline in the sale of Avioane Craiova by January 30, 2009, from the previous December 10 deadline.

Three investors have acquired the company’s task book so far, namely Germany’s AEROTEC Engineering, Italy’s Alenia Aeronautica, and the Romanian unit of US-based EPS Inc Tinton Falls.

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