Czech aircraft maker AERO Vodochody to buy Romanian factory Avioane Craiova

Czech aircraft maker AERO Vodochody has won a Romanian government bid to take over factory Avioane Craiova, the government body in charge of state assets said Wednesday in a press release. AERO Vodochody offered €4.1 million (US$ 6.5 million) for an 81 percent stake in the Romanian company, with a pledge to invest another €8.9 million (US$14.1 million) during the first five years. AERO Vodochody — the world's biggest producer of jet training aircraft — competed for Avioane Craiova against Italian Alenia Aeronautica and Romanian INAV. Avioane Craiova is the only Romanian producer of army aircraft, and also makes equipment for civilian... [read full story]