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March 28, 2003

BULGARIA: Antonov Automotive Technologies may set up plant in Bulgaria – report

The Bulgarian News Digest (BND) reports that Antonov Automotive Technologies BV may invest 500,000 euro ($534,000) to set up a plant to assemble Antonov cars in Bulgaria, AAT founder and owner, Bulgarian engineer Rumen Antonov, reportedly said.

By bcusack

The Bulgarian News Digest (BND) reports that Antonov Automotive Technologies BV may invest 500,000 euro ($534,000) to set up a plant to assemble Antonov cars in Bulgaria, AAT founder and owner, Bulgarian engineer Rumen Antonov, reportedly said.

BND said that Antonov met Bulgaria’s Deputy Economy Minister Milen Keremedchiev on March 27, 2003 to discuss AAT’s planned investment in Bulgaria.

Antonov reportedly said there was no Bulgarian company able to organise and take up the entire car production process. The Antonov car combines Antonov’s patented automatic-transmission, the so-called Antonov Automatic Drive, and a valveless 4-stroke engine. It is equipped with a 54 hp 700 cc engine and weighs less than 400 kg.

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