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European Commission to investigate Automobile Craiova privatization

de     HotNews.ro
Miercuri, 10 octombrie 2007, 0:00


The European Commission opened an investigation on the way the former Daewoo factory, car producing Automobile Craiova, went through the privatization process. “The commission has also required Romania to suspend any unlawful aid until it takes a decision on its compatibility”, CNN reports on Wednesday.
Romania attached specific conditions to the privatization of the car maker, which may have resulted in a lower sales price than if the privatization had been unconditional, the commission said.

Romanian EC commissioner Leonard Orban declared for Hotnews.ro that “this is a new breaking of the treaty. It is very important for the Romanian authorities to make available all the documents the Commission demanded”.

The State Assets Agency (AVAS) announced that it will abide the EC decision and that it will provide any answer within 30 days after the official notification is received.

“The procedure is normal for such transactions. Our answer will include the arguments that formed the foundation in perfecting this deal”, the AVAS press release reads.

Ford is expected to invest some 675 million euros in the factory and create 30,000 jobs.
























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