Awto ZAZ-FSO deal hits top gear

"We have reached a consensus in all key matters, in which we could not come to an agreement before," said Tariel Vasadze AwtoZAZ chairman of the supervisory board, following another round of talks with the representatives of the State Treasury yesterday. He went on to say that that both parties agreed on the price that the investor will pay for the stake, however he declined to reveal the actual sum. The Ukrainian investor also assured that he guarantees to maintain the current level of employment for the next five years, and does not plan any reductions in the following years. This is a result of the company's development plans, according to which the Żerań-based plant is to construct 150,000 cars annually. FSO currently manufactures around 3,000 cars per month. (Parkiet, p. 8) A.K.