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March 21, 2023

State earns additional RON 170 M from the privatisation of Automobile Craiova

The Romanian state earned an additional sum of RON 170 M from the privatisation of Automobile Craiova with Ford Motor Company, reads a press release issued yesterday by the state assets body (AVAS). Besides this sum, convened during negotiations held by AVAS and Ford this year, the current owner of the company, the authority will also receive a new company – S.C. Active Conexe S.A – which concentrates assets unrelated to the main activity conducted by the American company in Craiova, i.e. the Mecatim factory located in Timisoara and a number of real estate properties in several counties. The new company controlled by the Romanian state will have assets worth over RON 90 M and an operating capital of RON 30 M for the next two years.

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