BUCHAREST, Romania (AP) -- 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 euro4.1 million (US$ 6.5 million) for an 81 percent stake in the Romanian company, with a pledge to invest another euro8.9 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 aviation.