Representatives of Russian AMS group negotiate about privatization of "Zastava Trucks"

Management of "Zastava vozila" Group and the authorized in the Ministry of Economy started negotiation yesterday (January 28, 2008) in Belgrade with the management of Russian AMS group about announced tender sale of "Zastava Trucks".

Representatives of Russian company asked questions about possibility of write-off of the debt of Zastava's trucks factory towards the state, which amounts to about 30m EUR. At the end of 2006, Minister of Economy Mlađan Dinkić announced in Kragujevac that the debt of "Zastava Trucks" towards the state would be written off just before privatization of that company. According to unofficial information, former strategic partner of "Zastava Trucks", Italian "Iveco", is willing to write-off more than 70% of its claims, and the same model was applied to settlement of debts between "Zastava" and "Fiat".

Tender for sale of "Zastava Trucks" will be announced at the end of March or at the beginning of April and it will be open prior to the end of May. Russian AMS group is one of the most serious potential buyers of Zastava's factory of trucks.

Managers and experts from that Russian company visited "Zastava Trucks" on several occasions last year. Their intention was to get familiar with technical-technological capabilities and potentials of the personnel of Kragujevac-based factory.

AMS group, which deals with production of parts for automobiles and trucks, intends to keep production program of that factory, that is, to continue production of trucks with the capacity between 2 and 5 tons.