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.

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