Unsuccessful tender for sale of Automobile Factory Priboj

The repeated tender for sale of Automobile Factory Priboj (FAP) in restructuring has been declared as unsuccessful - the Privatization Agency announced.

The bid for procurement of 86.5% of FAP's capital has been submitted only by the consortium of companies "Lvivski avtobusni zavody" from Urkaine and "City Transport Construction Investment" from Great Britain.

The bid has not even been opened because that consortium lost the right to become the buyer of any company in Serbia after the contract on takeover of Trstenik-based company Prva Petoletka was canceled.

The Law on Privatization stipulates that the buyer of capital or property can not be physical person, juristic person or founder of a juristic person whose failure to fulfill contractual obligations led to cancellation of the contract on sale of capital or property.

The first tender for sale of FAP was declared as unsuccessful at the end of year 2007 because no company submitted the obligatory bid, while the tender dossier was bought only by Czech company "Tatra".

FAP used to be the largest manufacturer of commercial vehicles in the Balkans, and it now employs over 1,518 people.