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R-Glass to be offered for sale a second time

R-Glass Hungary is to be offered for sale for a second time after no bids were submitted for the company following the first tender invitation, bailiff Miklós Balázs told MTI.

Balázs said the Hungarian and foreign investors who expressed interest found the HUF 1.26 billion purchase price too high.

The creditors' board decided on Tuesday to again offer the glass factory, located in Salgótarján, for sale, Balázs said.

The purchase price is to remain the same, although different offers were also be considered.

R-Glass, which has debts of HUF 1.5 billion (€5.72 million), underwent liquidation in September 2009, when it employed 277 workers. This was the second liquidation in the company's history.

The company's sales revenue exceeded HUF 2 billion in 2008, with exports accounting for 90% of sales.

The new submission deadline for purchase bids will be May 17. (MTI-ECONEWS)