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Concrete steps made to finalise privatisation of Zastava car maker
Belgrade,
4 December 2006
Serbian Minister of Economy Predrag Bubalo spoke today in Belgrade with the management and trade unions of Zastava Vehicles Group from Kragujevac on the process of restructuring and privatisation of other side firms of Zastava.
An agreement on concrete steps that need to be taken on order to finalise privatisation of Zastava Trucks and Zastava Special Cars was made in order to make conditions for finding a strategic partner for Zastava Cars.
The management of Zastava informed the Minister on set deadlines for installing new equipment and lines for Zastava 10 car, which will be modelled after Fiat Punto car, whose production in Italy has been prolonged until 2008.
Over the past three years, over 60% of firms within Zastava Holding with over 22,000 employees back in 2001 were successfully privatised.
The management of Zastava informed the Minister on set deadlines for installing new equipment and lines for Zastava 10 car, which will be modelled after Fiat Punto car, whose production in Italy has been prolonged until 2008.
Over the past three years, over 60% of firms within Zastava Holding with over 22,000 employees back in 2001 were successfully privatised.
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