EU Commission gives green light to Tractorul Brasov privatization

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The European Commission (EC) gave green light the to the privatization of Tractorul tractors maker in Brasov (90 km north of Bucharest), press officer for competition Linda Cain told Rompres.
 
The EU Commission’s decision points out the fact that in this privatization it does not deal with a state support as in this case, proceedings can be continued as the Romanian authorities scheduled, EU Commissioner for Multilingualism Leonard Orban said on April 2.
 
"I’d like to point out the importance of the decision that clearly shows that there where there are strong reasons and things proving that the steps taken are correct, the EU Commission never hesitates to make the appropriate decisions.
 
This time, the decision is favourable to the Romanian authorities clearly saying that the terms and the proceedings imposed during the Company’s sale are correct and they fully observed the EU provisions, EU Commissioner stressed.
 
Bucharest-based Flavius Investments SRL won on July 5, 2007 the auction selling assets belonging to Tractorul Brasov, the Company’s whole platform being purchased for 77 million euros. Nevertheless, Flavus received back 980,000 euros from the liquidator of Tractorul because the measuring of the land plot the factory’s facilities lie on show that the Company bought 121 and not 126 ha, as it was announced at the auction.
 
During the public auction selling the assets belonging to Tractorul Brasov, staged by Transylvania SPRL Cluj Napoca Insolvency House in 2007, on the blocks were put the tractor and power utilities manufacturing module, as well as the ones for cast parts, independent modules numbering several unused halls, warehouses, platforms, garages a.s.o. Tractorul Co. entered volunteered liquidation in Feb. 2007, after all its 1,900 employees were laid off.
 
Romanian authorities imposed several special terms for the Company’s privatization, mainly referring to keeping the same activity for 10 years and to re-employing with priority workers who were sacked from the factory.
 
The EU Commission started an investigation in 2007 about Tractorul’s privatization, specifying it has to check whether the terms had as a result selling the Company for a lower price than if the privatization procedure had been free of terms, and in this case, it could have dealt withstate subsidies.
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