FAP delivers 32 buses to Serbian Army.

By bne IntelliNews March 22, 2011
Local truck maker FAP has delivered 32 buses to the Serbian Army, Tanjug news agency reported. The defense ministry and the economy ministry have invested some EUR 4mn in the production of buses for the army and plan to invest a further EUR 3mn in the future. FAP inked a deal on supply of buses to the Serbian Army in October last year. The defense ministry plans to order more than 70 trucks from FAP, of which 28 will be ordered this year, defense minister Dragan Sutanovac said. Chinese automaker Dongfeng and FAP signed a memorandum of understanding in November 2009 according to which the Serbian company should have started assembling four Dongfeng truck models in 2010. However, partnership talks have stalled due to unresolved issues regarding risk sharing between Dongfeng and FAP. Former economy minister Mladjan Dinkic announced later on that the company might forge strategic partnership with Italian truck maker Iveco. According to earlier reports, an investment fund from Canada has also expressed interest in FAP and has contacted the economy ministry for talks on potential partnership.

Related Articles

Serbia's external debt up 4.7% y/y to EUR 25.4bn at end-Feb 2013.

Serbia's foreign debt rose an annual 4.7% y/y to EUR 25.4bn at end-February after climbing 6.6% on the year in January, central bank data showed. In monthly terms, however, the external ... more

Vip Mobile Serbia signs five-year managed services deal with Ericsson.

Swedish company Ericsson said it has signed a five-year managed services contract with Vip Mobile - the Serbian arm of Telekom Austria Group. The agreement includes field maintenance services for ... more

Telenor and Societe General possible buyers of Serbia's KBC Banka - report.

Norwegian telecommunications firm Telenor and France's Societe General are seen as possible buyers of the Serbian unit of Belgium's KBC Group, which has been on sale for several years now, a ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 296
Dismiss