ST Glass: new tender planned for mid-May 2006

A second tender for Hungarian blown glass factory ST Glass was abandoned after it failed to attract any offers, bailiff Gyorgy Szondi said on 26 April 2006. No bid was received for the first tender in…

A second tender for Hungarian blown glass factory ST Glass was abandoned after it failed to attract any offers, bailiff Gyorgy Szondi said on 26 April 2006. No bid was received for the first tender in February 2006. Mr Szondi noted that the April tender had attracted serious interest in the factory, but the deadline for bidding was short. He said a third tender for the factory has already been called with a deadline in mid-May 2006. The factory“s real estate, production equipment and stocks are on offer at a starting price of net HUF 1.3 billion. The asking price in the first tender was HUF 1.98 billion, which may have been too high to attract professional investors, Mr Szondi said after the abandonment of the tender. ST Glass owes lenders HUF 3.7 billion, including HUF 2.7 billion on mortgage loans. The company has been under liquidation since April 2005. It employs 630 people.