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The eBearing News
August 8, 2005
AVAS Announces Rulmentul Brasov Bidding, Parameters
copyright © 2005 eBearing Inc.
AVAS, the Authority
for State Assets Recovery -- Romania's privatization agency -- has published all the necessary
information potential bidders for Rulmentul Brasov may need.
The information sheets are available through AVAS, and are also published on its website:
The necessary information is available here on the AVAS website:
http://www.apaps.ro
There are September 3 and September 19 deadlines for bidders.
Founded in 1949, Rulmentul SA Brasov is Romania's largest bearing manufacturing company. Under
RBR and URB (Uzina Rulmentul Brasov) brands, the company manufactures ball bearings, linear
bearings, tapered roller bearings, and needle roller bearings.
A portion of Rulmentul Brasov's stock began public trading in 1994, and the company was nominally
privatized in 2000. It is publicly traded (BSE symbol: RBR), but 51% owned by AVAS.
Early in 2005, the International Monetary Fund reached agreements with the Government of Romania
to enact a strict governmental and financial reforms package.
As part of that package, Romania has agreed to privatize or shut down its three largest money-losing
enterprises -- electrical equipment maker Electroputere Craiova, tractor plant Tractorul Brasov, and
bearing maker S.C. Rulmentul SA Brasov. The IMF deadline is December 31, 2005.
article: IMF cracks down on Romania; Rulmentul Brasov targeted
The company recently reported continuing losses for the first half of 2005.
article: Rulmentul Brasov Losses Continue in First Half 2005
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Bruce Carr edited this content.
Copyrighted material; unauthorized reproduction prohibited.
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2011, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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