Authority for State Assets Recovery (AVAS) is to restructure the Romanian state-owned company Electroputere Craiova by fusing production activities based on economic efficiency criteria, announced AVAS chairman Monday. The process is due to close in June this year.

Last year, 600 employees were laid off. They received between 20- 24 compensatory salaries.

In order to create the best framework for privatization, AVAS is to hold talks with the companies that expressed interest in purchasing the Romanian company: DAB Greece, Bombardier Sweden and Siemens Germany. The Austrian holding A-TEC Industries AG will send a letter of intent to take part in the privatization process next week.