Romania’s Economy Ministry has put up for sale the state-owned disposable syringe plant Sanevit 2003 Arad for about EUR 7.4 million. The company hasn’t produced anything in several years and has only a few employees, reports local Mediafax.

The plant’s share capital consists of about 16 million shares with a face value of RON 2 (EUR 0.4). The Economy Minister owns all the shares, after taking over the factory in June 2012, to save it from bankruptcy.

Companies that want to take part at the auction need to submit a EUR 740,000 guarantee (10% of the asking price) by November 17. The factory’s privatization procedure has begun almost three years ago, but the announcement was published only now.

editor@romania-insider.com