BELGRADE (Serbia), April 11 (SeeNews) – Serbia’s government said on Wednesday it signed a contract for the sale of insolvent tractor manufacturer Industrija Masina i Traktora (IMT) to Indian company Tafe for 66.8 million dinars ($699,000/565,000 euro).
By purchasing IMT, Tafe acquired the intellectual property rights of the company, which includes the brand, design plans and copyrights, as well as real estate in Jarkovac, northern Serbia, the government said in a statement.
The Indian company was the only bidder for the acquisition of IMT and its offer was approved on April 2.
Tafe intends to manufacture tractors under the IMT brand, with 50% of their parts to be made in Serbia, the vice president of the group, K…
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