APAPS to sell six companies

The Privatisation Authority (APAPS) yesterday put six companies up for sale, some of which are on the list of those set to shed jobs. The bids by potential buyers will be analysed throughout two months after submission. APAPS is selling 69.98% in SC Rulmenti SA Slatina, a company that designs, makes and sells bearings and 97.02% in paper producer SC Letea SA Bacau, with only those with more than 25 million euros in turnover allowed to bid for the latter. Other stakes put up for sale yesterday are the 99.12% in SC ICMUG SA Giurgiu, the 51% in SC Iasitex SA and the 51.4% in electronic parts maker SC Baneasa SA, based in Voluntari, Ilfov County. Only the IT&C investors that have at least five years experience and posted $500,000 turnover for the last tax year are allowed to bid for SC Baneasa SA. APAPS is also offering for sale the companies in Combinatul de Utilaj Greu (Heavy Equipment Plant – CUG) and Fortpres CUG SA, based in Cluj -Napoca. Any potential buyer must have been in this business for at least five years and posted $15 million turnover in 2001. ZF