Privatization Agency: SISU sole bidder for FAP

Serbian Privatization Agency said Wednesday that Finnish truck maker SISU is the sole bidder for strategic partnership with the truck and car manufacturer FAP in Priboj, southwestern Serbia, adding 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 final decision has been postponed for two days until the Privatization Agency checks whether the bidder has paid a deposit of EUR 50,000, which is in line with the law.

After the check, a new meeting of the tender commission will be scheduled to make a decision concerning FAP's sale.

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 plant's production capacity.

Sisu Auto is planning to establish a company in Serbia that would produce heavy duty commercial vehicles and parts.

The Finnish company produces customized heavy duty vehicles for niche markets, which are well-equipped for a ride across inaccessible terrain and under difficult weather conditions.

The company's customized trucks use Mercedes Benz engines and technology.

Photo Tanjug Video