The judicial administrators ofAstra Vagoane Arad, Meva and Romvag, which have become insolventover a 120 million-euro debt, are seeking an investor to take overthe majority stake in the three plants controlled by InternationalRailway Systems (IRS) group of businessman CristianBurci.
"We are conductingnegotiations with potential investors, we are seeking together withthe main creditors and the current shareholders to find the bestsolution for an efficient deal structure," said Rudolf Vizental ofSolve Insolv insolvency firm, the judicial administrator of AstraVagoane Arad.
Burci's plants, Astra VagoaneArad, Romvag Caracal and Meva in Drobeta Turnu Severin, becameinsolvent at the end of last year. From 4,814 employees in 2009,the three plants will be left with 1,700 employees by April,according to the insolvency firms and to ZFcalculations.
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