sunrunner_pei
12-30-2007, 04:20 PM
Filed under: Time Warp (http://www.autoblog.com/category/timewarp/), Euro (http://www.autoblog.com/category/euro/), Government/Legal (http://www.autoblog.com/category/government-legal/), Plants/Manufacturing (http://www.autoblog.com/category/plants-manufacturing/), Earnings/Financials (http://www.autoblog.com/category/earnings-financials/)
http://www.blogsmithmedia.com/www.autoblog.com/media/2007/12/yugo_250web.jpg (http://www.italiaspeed.com/2007/cars/financial/12/zastava/2812.html)Remember the Yugo? The little hatchback was built by Yugoslavian state-owned automaker Zastava Automobili and came to the US market in 1986 with a list price under $4000. Zastava started producing cars in 1955 but closed in the 90's during the Balkan wars that crippled the local economy and damaged its factory in Kragujevac, some 70 km outside of Belgrade. The company picked up production again once the wartime dust settled, repaying its debts to Fiat in 2005 and began building previous-generation Puntos, which the company badges as the Zastava 10 and sells around the Balkans, Eastern Europe, Middle East and North Africa. Zastava has since ceased production of the original Yugo, and in addition to the Puntos, is preparing to assemble Opels next year at its plant, which has an annual capacity of 60,000 units.
The company is now in the hands of the Privatisation Agency, the branch of the Serbian government responsible for Thatcherizing state enterprises, which is preparing to sell Zastava. The agency stated that it will only accept bids from automakers, automotive component manufacturers or established investment firms, with interested parties reported to include Fiat, GM and Magna-Steyr. Fiat's tipped to be the leading contender, given its long-running ties with Zastava and having recently missed out on the purchase of Russian automaker AvtoVAZ. Bidding is anticipated to begin with due diligence by the end of March 2008.
[Source: Italiaspeed]
Read | Permalink (http://www.autoblog.com/2007/12/30/want-to-buy-a-serbian-car-how-about-a-serbian-carmaker/) | Email this (http://www.autoblog.com/forward/1073600/) | Comments (http://www.autoblog.com/2007/12/30/want-to-buy-a-serbian-car-how-about-a-serbian-carmaker/#comments)
More... (http://www.autoblog.com/2007/12/30/want-to-buy-a-serbian-car-how-about-a-serbian-carmaker/)
http://www.blogsmithmedia.com/www.autoblog.com/media/2007/12/yugo_250web.jpg (http://www.italiaspeed.com/2007/cars/financial/12/zastava/2812.html)Remember the Yugo? The little hatchback was built by Yugoslavian state-owned automaker Zastava Automobili and came to the US market in 1986 with a list price under $4000. Zastava started producing cars in 1955 but closed in the 90's during the Balkan wars that crippled the local economy and damaged its factory in Kragujevac, some 70 km outside of Belgrade. The company picked up production again once the wartime dust settled, repaying its debts to Fiat in 2005 and began building previous-generation Puntos, which the company badges as the Zastava 10 and sells around the Balkans, Eastern Europe, Middle East and North Africa. Zastava has since ceased production of the original Yugo, and in addition to the Puntos, is preparing to assemble Opels next year at its plant, which has an annual capacity of 60,000 units.
The company is now in the hands of the Privatisation Agency, the branch of the Serbian government responsible for Thatcherizing state enterprises, which is preparing to sell Zastava. The agency stated that it will only accept bids from automakers, automotive component manufacturers or established investment firms, with interested parties reported to include Fiat, GM and Magna-Steyr. Fiat's tipped to be the leading contender, given its long-running ties with Zastava and having recently missed out on the purchase of Russian automaker AvtoVAZ. Bidding is anticipated to begin with due diligence by the end of March 2008.
[Source: Italiaspeed]
Read | Permalink (http://www.autoblog.com/2007/12/30/want-to-buy-a-serbian-car-how-about-a-serbian-carmaker/) | Email this (http://www.autoblog.com/forward/1073600/) | Comments (http://www.autoblog.com/2007/12/30/want-to-buy-a-serbian-car-how-about-a-serbian-carmaker/#comments)
More... (http://www.autoblog.com/2007/12/30/want-to-buy-a-serbian-car-how-about-a-serbian-carmaker/)