Defense holding PGZ to get PLN 100 mln cash injection

The Polish Defense Group (PGZ) will receive PLN 100 million from the Businesses Restructuring Fund, the Ministry of the State Treasury said in a statement on Friday. The support does not qualify as public aid. “The Treasury Ministry, as the main shareholder of the Polish Defense Group, will consistently build its potential, using the tools available, with a positive effect for the Polish economy and the country’s security,” said Deputy Treasury Minister Zdzisław Gawlik after signing the agreement with PGZ. The company will spend PLN 44.7 million out of the support for expanding its ammunition factory in Pionki, central Poland.