EAS, ELVO, LARKO To Be Restructured

The Gree764F7A79E0217A393003A5A05E1AF6C8k government will undertake the radical restructuring of troubled state companies, Greek Defense Systems (EAS), Greek Vehicle Industry (ELVO) and mining and metallurgical company LARKO and in this context the government has announced that it has decided to seek the assistance of specialized independent consultants.

“With the help of consultants and in collaboration with the management and employees of the companies we will examine feasible restructuring plans,” is noted in a relevant government announcement.

As noted, “these plans will include the necessary restructuring and adaptation of firms to become viable in order to be privatized in 2014 and / or facilitate the sale of their individual assets.”

It is also noted that “these plans should minimize the cost of these companies for the Greek taxpayer and be compatible with the EU rules on the state aid.”

“The results of the findings of the consultants will lead to final decisions of the government by the end of August and their implementation by the end of this year,” the press release concludes.

 


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