Rulmentul Not Selling For 70 Mio EUR

F.A.
Ziarul BURSA #English Section / 29 februarie 2008

The liquidators of RulmentuL SA, RVA Insolvency and Casa de Insolventa Transilvania, will put up for aution the bearing manufacturer Rulmentul SA for the second time. Although two tender files have been purchased, it appears that neither of the two prospective bidders will actually take part in the auction. The starting price is approximately 70 million EUR plus VAT. If no one attends the auction, the starting price will be reduced for the next auction.

Rulmentul comprises 44 hectares of land appraised at 39.69 million EUR, buildings worth 17.28 million EUR, machinery and installations worth 12.36 million EUR and tangible assets worth some 100,000 EUR. According to the liquidators, the business can be downsized to 270,000 square meters, whereas the remaining 17 hectares can be used for a different purpose. The company"s debts stand at some 245.63 million RON.

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