IMT Sold: Indian Money to Fuel Serbian Tractors

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Photo: Promo

Industry of Machinery and Tractors (IMT) was sold to the Indian company TAFE, at the initial price of around 66 million dinars.

The Indian company was the only bidder at the auction. It has been IMT’s partner for decades.

The sale was announced on March 1st, and the deposit was 26.4 million dinars.

Offered for sale were the building facilities, trademark rights and equipment, while the land will continue to be state-owned.

IMT, whose factories used to yearly produce 400,000 tractors, has been bankrupt since 2015, when its debt amounted to 186 million euros.

 

Source: Beta

Photo: Promo