Former Szczecin Shipyard managers buy Porta Petrol from previous bosses

Centromor, a company controlled by the former directors of the Szczecin Shipyard, who are now facing accusations of several management errors, took control of oil company Porta Petrol, one of the most attractive assets of the shipyard's owner, Porta Holding. Porta Holding's creditor banks together with Centromor, in which Industrial Group (GP) - owned by the former managers of the shipyard - holds a majority, took over shares of Porta Petrol in exchange for some of the shipyard's liabilities. The details of the transaction are unknown as Centromor head, Ryszard Ferworn, refused to comment on the subject. The only clue might be a statement he made in Autumn 2001, in which a planned investment of zl. 100-150 million in the oil sector was mentioned. (Puls Biznesu, p. 9) M.K.