ING Bank guarantees shipyard construction

The guarantee is said to amount to some 30% of the value of the shipyard's total production, making it the largest such transaction organized for a Polish shipyard. The shipyard boasts some 1.6% of the world's ship production with 90% of its production slated for export. This year it plans to increase its sales to $400 million, up from $300 million in 1996. (Nowa Europa, page 5, Reuters)