Assets worth 5.63 million euros of Romarm to be auctioned off

Info-Dip Insolvency Brasov, the trustee in bankruptcy of the Special Products Plant of Fagaras, announces that, starting with March 2, it will hold public auctions every Tuesday in order to sell off the company”s assets, worth an estimated 5.63 million euros, Bursa daily reports.

The Fagaras plant is a subsidiary of the arms maker Romarm Bucharest. The assets, which consist of plots of land and equipment, will be sold in bulk or separately, the trustee announced. The plots of land which are being put up for auction have a total surface of 485,582 sqm, and are worth 1.65 million euros.

The equipment sold together with plots of land with an estimated surface of 908,008 sqm is worth 3.98 million euros. In its 15 factories located all across Romania, Romarm manufactures military equipment. The company is owned by the state, through the Ministry of the Economy, Trade and Business Environment.

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