Ministry of Economy decides to launch privatisation procedures at IAR Ghimbav, Avioane Craiova and Romaero
The Ministry of Economy decided to launch the privatisation procedures at IAR Ghimbav (based in Brasov, central Romania), Avioane Craiova (based in Craiova, southern Romania) and Romaero (based in Bucharest) (all three aircraft factories), with the involvement of other institutions following to be needed in the process too, Minister of Economy, Varujan Vosganian, said on Wednesday.
We decided at Ministry level to start privatisation procedures at IAR Ghimbav, Avioane Craiova and Romaero. These all are such units that are directly involved in Romania’s defense capacity. All I can do right now is to evaluate the opportunity and the market. In terms of procedure, there is need to involve several other institutions too, since it is about the country’s defense capacity. However, at Ministry level we are launching the consultancy and expertise procedures for the privatisation of the three units’, said Vosganian.
The Minister of Economy showed that although all the three companies are valuable and recognized for their extraordinary expertise in their field of activity, Avioane Craiova is currently found in critical situation, Romaero has debts and IAR Ghimbav is currently dealing with a dramatic drop in the production.