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The State Assets Recovery Authority (AVAS) has approved the strategy to recover the assets of Tractorul SA - Brasov, which is currently undergoing liquidation. The strategy has been created by "Casa de Insolventa Transilvania" (CIT, Transylvania Insolvency House), based in Cluj Napoca, which won the tender organized to select a liquidator for Tractorul.
Radu Lucian Lotrean, a partner with CIT, said an advertising campaign would start the following week to promote the tender, scheduled for early July. "It is possible that we may hold the tender late this month, but it is very likely that it will take place early next month," he added.
Lotrean also pointed out that Tractorul assets have stirred much interest among potential investors. "Every day we receive two or three delegations of potential investors who wish to see the condition of the production equipment, as well as of the other assets to be put up for sale," he mentioned.
Another matter of interest is Tractorul"s "UTB" brand, which will also be sold along with the other assets. The brand is currently being evaluated and its price will be defined before the tender. "I cannot state any approximate value, but I"m sure it will be known by the time the tender advertisements are released," he said. In addition to the brand, the list of items for sale will include all the patents the company registered in its existence.
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