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Avtomontaza Finally Declares Bankruptcy

Ljubljana, 4 December - COMPANIES/AVTOMONTAZA/BANKRUPTCY
About 500 workers of the Ljubljana-based bus maker Avtomontaza were told on Friday that the company was going bankrupt. Director Lucijan Rejec filed the petition in bankruptcy on 2 December after Sweden's Volvo formally notified Avtomontaza it has lost the order from Saudi Arabia for 300 buses, which sealed Avtomontaza's fate. The Arabs ordered the buses from Mercedes.

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