Italy's Alenia Aeronautica said it will submit the final and improved bid for taking over the Romanian plane maker Avioane Craiova, just like the state assets recovery body (AVAS) requested, by May 27, according to AVAS, NewsIn informs.
AVAS received a letter from the Italian company yesterday, expressing its intention of continuing the privatization process of Avioane Craiova.

AVAS decided on May 12 to prolong the deadline for filing offers for Avioane Craiova with another 15 days to give Italy's bidder Alenia Aeronautica S.p.A. more time to present a final bid.

Alenia said it wants to continue negotiations with AVAS starting with the second half of June, after a new analysis is completed at the plant on the investments to be pumped in connection to the business plan.

The state has tried to sell the Romanian company, but failed several times. The privatization was resumed in October 2008 and the deadline to submit offers has been prolonged repeatedly.

Alenia Aeronautica is a member of the Finmeccanica Group, one of the main players in the aviation industry in Italy producing commercial and military planes for the global market. Last year it reported 2.3 billion euros in revenues and employs 13,301 people.

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