FAP

Finnish company sole bidder for truck maker

BELGRADE -- 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.

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

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.

BELGRADE - Serbian President Tomislav Nikolic and officials of the China Machinery Engineering Corporation (CMEC), which is in charge of the overhaul of Kostolac thermal power plant, said Thursday that the works in the first phase are going as planned, and voiced expectation that the project will be successfully completed and the production resumed in a very short time.

SMEDEREVO - Serbian Prime Minister Aleksandar Vucic handed on Thursday the keys to the new production hall in Smederevo to its lessee PKC Group, a Finland-based manufacturer of wiring systems and electronics for commercial vehicles.

New copper smelter "to boost GDP"

BOR -- Prime Minister Aleksandar Vučić visited on Wednesday the copper mining and smelting complex RTB in Bor, eastern Serbia.

The construction of a new copper smelter is underway there, with dry runs scheduled to begin by the end of the year.

BOR - Serbian Prime Minister Aleksandar Vucic visited on Wednesday the copper mining and smelting complex RTB in Bor, eastern Serbia, where the construction of a new copper smelter is underway, with dry runs scheduled to begin by the end of the year.

"Keeping bad companies alive is luxury"

BELGRADE -- New Economy Minister Željko Sertić says many of the 502 companies included in the recent public call for privatization are not likely to be profitable.

This would not happen "even if all their overdue debts are erased - so they will probably not attract any prospective buyers."

PRIBOJ - More than 600 employees of the Priboj-based FAP are officially in a paid leave status by the end of June but the company's management engaged around one hundred of them in the manufacture of ten FAP 1118 trucks for the needs of Serbian Armed Forces and the preparation of the factory's takeover by the Finnish SISU Auto.

PRIBOJ - The Serbian government and the Finnish SISU company on Friday signed a memorandum of understanding under which Priboj-based heavy commercial vehicles maker FAP should start producing trucks in September, with a contract to be signed by late August.