Tractorul saves itself for Landini

The Government has authorised the Privatisation Authority (APAPS) through an ordinance enacted on Thursday to sell the state’s interest in Tractorul UTB Brasov to Italian Landini Spa by direct negotiations without shortlisting any bids first. “After a number of attempts to find a solution to the extremely difficult economic-financial condition the company is in, the Government has identified the best option to privatise Tractorul. This is the only way to turn it around and keep it going as part of the national economy,” APAPS says. Landini presented APAPS a $40 million investment programme to retool the Brasov-based plant, Authority officials have said recently. ZF