EnglishUS-based Austin Powder asked the State Assets Recovery Authority (AVAS) to extend the deadline for the submission of bids for Nitroexplosives - Fagaras, according to an AVAS representative, who pointed out that the deadline could not be extended because "another extension could go beyond the date for the postponement of insolvency and people could be laid off without severance.
Austin Powder explained their request saying the time had been too short to prepare a bid. Only three entities bought the tender book for the Nitroexplosives privatization: Austin Powder, UZUC - Ploiesti and Nitromac.
This is AVAS" second attempt to privatize Nitroexplosives. Another splinter of Nitramonia, Nitrofertilizer, was sold as a viable asset to Ioan Nicolae for 10 million EUR. Nicolae also wants to rent Nitrotrans, Nitroservice and Nitrocontrol until they are put up for sale. AVAS controls Nitroexplosives with 79.05%.
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