Remember APACA?
There is a nine-hectare plot of land in the centre of Bucharest where no residential district or shopping complex has been or will be planned for construction soon. It is the APACA site, where capitalism is still unclear, in a context reminiscent of the nineties.
The first signs of capitalism greet you right at the old gate of the former factory on 7, Iuliu Maniu Boulevard. On one side, tens of posters hastily thrown together and randomly stuck on the walls announcing the existence of all sorts of firms, from apparel to electronics shops, laundries, fitness studios, print shops and more. On the other, a new building, still under construction, sticks out like a sore thumb among the old buildings on the premises. A large billboard next to it advertises that this is where a new shop of one of the few clothing makers still operating in APACA, the biggest and best-known ready to wear factory in the communist years, will be built.
Since 1992, the year APACA was privatised, all the production facilities have been sold one by one and turned into different businesses. The ten ready to wear factories on the site were therefore much easier to divide among the hundreds of new shareholders, the former employees of APACA. The MEBO-type privatisation was the start of a real entrepreneurial aptitude test for the new shareholders. Until privatisation, the orders came from the state and were forwarded to divisions, but since 1992 each new owner has been on his own. It was very difficult because few of the APACA employees had had any contact with the foreign customers of the factory before, because neither the money nor the negotiations would reach the production facility.
Urmărește Business Magazin
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