Liabilities restructuring plan for SG brings optimism

By the end of the year, the Stocznia Gdynia (SG) shipyard will have paid all its liabilities below zł 10.000. The acceptance of the liabilities restructuring plan is good news for suppliers as they are likely to receive monies owed in three year's time. However, suppliers themselves hold quite opposite opinions. "The financial situation of SG's creditors has not changed despite the agreement between the shipyard and creditors" says Marek Kamiński from Gdynia-based Klimor producer of air conditioning equipment for the shipping sector. "We are in a difficult situation and we are continuing to run our business thanks to our other clients. At the same time, the shipyard's liabilities restructuring plan has brought some optimism to its other supplier Elmor. SG has launched the transfer of financial resources for equipment for one of the ships ordered last year. The work has restarted after a year long break. (Rzeczpospolita, Aug. 9-10; p. B3) A.Z