August 19 (SeeNews) - French vehicles maker Trigano SA has bought a 19.2 % stake of troubled Serbian Zastava Inpro, comprising mainly a shop for the production of trailers, the company’s manager Branko Veljovic told SeeNews on Friday.
The French company was the only bidder in the public auction announced last month. The stake for which Trigano paid 287,000 euro ($324,949) includes assets and equipment of a factory for towed vehicles in central Kragujevac.
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The deal will help Zastava Inpro avoid official bankruptcy, Veljovic added. It employs 160, half of whom are with diasbilities.
The company is part of car maker Zastava Vozila, which is in restructuring now. Zastava Inpro was originally set up as a centre for vocational training and employment of disabled persons. Apart from trailers and autoparts its makes tarpaulins, mailboxes, lockers and even tractors.
Veljovic explained that Zastava Inpro is “public property” and that category should no longer exist by Serbian laws. “The remaining almost 80% of assets will be converted into state ownership and in this way the issue will be solved, ” he said.
($=0.8832 euro)