NEW YORK TIMES
INTERNATIONAL BRIEFS: Bulgarian Car Maker Decides to Close
Published: Friday, April 5, 1996
Rodacar, Bulgaria’s sole car maker, said yesterday that it was closing down because of bureaucratic obstacles and a lack of Government support. Rodacar said it would halt production of its Rover Maestro cars in its factory at the Black Sea port of Varna by the end of May, a move that was seen as a blow to Bulgaria’s hopes of attracting sorely needed foreign investment.
Rodacar was started in March 1995 by Rover Group Ltd., a subsidiary of the German auto maker BMW A.G. Rover invested $20 million for a 51 percent stake. The remaining 49 percent is owned by four companies belonging to a private consortium in Bulgaria called Daru Group. (Reuters)
Is the Editor of the Parkers website and price guide, formerly editor of Classic Car Weekly, and launch editor/creator of Modern Classics magazine. Has contributed to various motoring titles including Octane, Practical Classics, Evo, Honest John, CAR magazine, Autocar, Pistonheads, Diesel Car, Practical Performance Car, Performance French Car, Car Mechanics, Jaguar World Monthly, MG Enthusiast, Modern MINI, Practical Classics, Fifth Gear Website, Radio 4, and the the Motoring Independent...
Likes 'conditionally challenged' motors and taking them on unfeasible adventures all across Europe.
Latest posts by Keith Adams (see all)
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