Romanian privitisation body AVAS has begun an investigation into the sale of assets of the National Institute for Glass Research following a complaint by the workers“ union of the institute, AVAS sai…
Romanian privitisation body AVAS has begun an investigation into the sale of assets of the National Institute for Glass Research following a complaint by the workers“ union of the institute, AVAS said in a statement on 3 February 2005. The union filed its complaint to AVAS at the end of January 2005 stating that at the end of 2004 the institute sold part of its assets at prices far below their market value. Among the assets sold, the most significant is a 7,000 sq m building transfered to Greek company ESK Invest Consulting for EUR 400,985 (USD 520,440), a figure which is considered 17 times lower than the market value. AVAS currently holds a 75.1% stake in the research institute.