Gdynia and Szczecin Shipyards to be taken over by ARP

Recent talks between Shipyard Gdynia (SG) and a sector investor had ended in a fiasco. This now means that the yard will probably be taken over by the Industrial Development Agency (ARP). Deputy Economy Minister Jacek Piechota confirmed that the government, "Is in talks about the ARP taking over the assets of New Szczecin Shipyard (SSN) and SG. I have also ordered an analysis of the potential take over of the Cegielski plant". Over 90% of SSN shares already belong to the Agency, and it can receive a 25% stake in SG from the State Treasury, plus buy an additional 22% stake from Kredyt Bank. According to Marek Roman, director of advisory company EVIP, which also holds a 5% stake in SG, the company does not need the ARP, but rather a strategic investor. "The investor might be introduced over the loner term. However, at present the consolidation of SG's assets by the Agency seems the best solution, as ARP might negotiate better terms with suppliers and clients for both shipyards," stressed Piechota. (Puls Biznesu, pp. 1, 6) M.M.