SKF TOP BIDDDER FOR BEARINGS PLANT

Business | June 9, 2001, Saturday // 00:00

Swedish roller bearings manufacturer SKF is selected as a top bidder for a bearings plant, part of state-owned Vazov Machine building Plant (VMZ), Bulgaria`s Privatisation Agency (PA) reported. `SKF has been selected as exclusive buyer because they have offered the best price and a serious business plan,` PA CEO Levon Hampartzoumian said. The negotiations with SKF will be conducted in the next 30 days. Two other companies also placed bids for the bearings plant - the Bulgarian-registered VSK Kentavar and ORS-Bulgaria, an affiliate of Turkeish ORS. The government extended an interest-free loan of BGN 8.2 M to VMZ earlier this year.

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