Tatra truck maker sold in auction

The troubled Czech truck maker Tatra was sold at an auction on Friday, three weeks after the firm was declared bankrupt. The company was acquired for 176 million crowns, or around 9 million US dollars, by a newly-established firm, Truck Development, which is financed by the investment group J&T. Tatra’s assets have been established at 1.76 billion crowns while its commitments reached 1.5 billion crowns. Tatra CEO, Ronald Adams, welcomed the news and said the change in ownership would solve the firm’s financial difficulties.

Author: Jan Richter