Israel-based Shabum International interested in Rulmentul Brasov

Israeli-based companies, Shabum International and Iscar, are interested in taking part in the privatisation of Rulmentul Brasov together, the Brasov-based company announced on Tuesday. Shabum notified Rulmentul of its intention at the end of June, by sending a letter signed by the president of the Israel-based company, Marian Platzman. Rulmentul Brasov sent the letter to the Bucharest Stock Exchange yesterday. Shabum announced it wished to maintain the core business and the number of employees of the Brasov-based company and to acquire all the shares of Rulmentul. The Brasov-based company was put up for privatisation in August last year, but the process was not completed, as the State Assets Resolution Authority (AVAS), the company’s majority shareholder, rejected both offers, which come from Rulmenti Barlad and the consortium made up of Industrial GP SRL Bucuresti and Uzuc SA from Ploiesti. Shabum is one of the partners of Rulmentul, and Iscar manufactures metal processing tools, and grinding products among others.