Ion Ratiu's son buys Aro Campulung assets

Businessman Nicolae Ratiu, the son of the late PNTCD (National Peasants’ Party) leader Ion Ratiu, has acquired a series of assets worth 16.5 million euros in the former Aro Campulung plant, through Landmark Management. The plant will be rehabilitated and eventually rented to companies involved in the production of car subassemblies. The tender for the acquisition of the assets of the plant, currently under bankruptcy, started from 53.26 million RON. The transaction delivered Landmark Management a 460,000sqm area of land, which includes buildings with a 167,000 sqm-surface area, the company’s 10,000sqm parking lot, equipment and manufacturing licences for the brands developed by the company. “The total area is around 46 hectares, with a value set at 16.5 million euros, as a result of the tender. We are currently investigating projects, which will revitalise the area,” stated Calin Husar, Nicolae Ratiu’s business associate. According to representatives of the real estate development company Landmark Management, they intend to rehabilitate some of the buildings at the industrial park. The buildings will then be rented to companies in the automotive industry and in other production fields. “To be perfectly honest, I don’t think Aro vehicles will be produced in Campulung anymore. It would be much too difficult. However, parts and subassemblies may still be manufactured there,” said Husar.