US General Motors Corporation, one of the world's largest companies, is planning to headquarter its technology and production centre for Europe, North Africa and Middle East in Craiova, says Charles Mann, director of business development for Europe with General Motor's locomotives division.
The American company is determined to buy Electroputere Craiova together with other industrial and financial investors in order to expand its operations on the emerging markets in this part of Europe, but it is all up to the Romanian authorities, the General Motors representatives say.
"Our purpose is to buy Electroputere Craiova and establish here the technology and production centre of General Motors Electromotive (GM's locomotive division). We want to make locomotives in Craiova. We may even relocate the marketing centre from Germany to Craiova at some point," Charles Mann said.
"This is the region of Europe that is growing, particularly if the market becomes deregulated. Other countries in the region asked us to come do there what we want to do here. Electroputere is our first choice, but if it falls through, we will be looking for another location because we want a presence in the region," Mann explains. GM already has stakes in local locomotive makers in Turkey and Spain.
The Americans have submitted letters of interest for Electroputere to the Privatisation Authority (APAPS) in September 2003 and are expecting a decision from the Romanian authorities. The sale of the company was announced for this fall.
"We have clearly shown we are really interested in developing Electroputere instead of using it. GM's philosophy is to optimise the local capability, and we liked what we saw there (in Craiova i.e.)," Mann says.
adrian.mirsanu@zf.ro
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
