BUCHAREST, Romania (Nov. 6, 2002)—Specialty tire and wheel maker and distributor Galaxy Tire & Wheel Inc. is among the bidders for a controlling interest in Yugolavian tire maker Rumaguma A.D., a European bank official said. Malden, Mass.-based Galaxy is among an undisclosed number of bidders seeking the 66.6-percent stake in Rumaguma being sold on behalf of Serbia's Privatization Agency. The Central Europe Trust Co. Ltd. is handling the sale, and its general manager, Marius Manoiu, confirmed Galaxy's bid. Serbia's Privatization Aleksandar Vlahovic revealed the U.S. company's interest at a news conference, according to news reports. The closing date for bids in the process recently was extended by one month to Nov. 15. Based in Ruma in the northwest Serbia, Rumaguma primarily produces tractor tires, with an annual capacity of around 12 million metric tons. Galaxy distributes its tire and wheels for agricultural and off-road markets in the U.S. through five centers , and in Europe through subsidiary Galaxy Europa GmbH, located in Germany.
Galaxy among bidders for Yugoslav tire maker Rumaguma
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