Finnish company sole bidder for truck maker

The Serbian Privatization Agency has said that Finnish truck maker Sisu is the sole bidder for strategic partnership with the truck and car manufacturer FAP.

Source: Tanjug

The agency said on Wednesday that the final decision will be made upon establishing validity of the bank guarantee submitted by the bidder.

The commission in charge of selecting the strategic partner for FAP announced that Suomen Erikoisajoneuvot Oy (Sisu), based in Karjaa, Finland, is the only company to submit a bid within the deadline specified in the public invitation.

The government of Serbia and Sisu signed a memorandum of understanding in May last year, according to which the company will take over a part of FAP and start the production of new truck models and parts.

The project will be carried out with the support of the Serbian government.

The investor plans to buy a part of FAP's assets and equipment, and to develop the production capacity of the plant, located in Priboj, southwestern Serbia.

Business & Economy

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