Polish shipyards saved

The European Commission has reached a compromise with Warsaw regarding Polish shipyards, according to information obtained by Brussels RMF FM correspondent. On Monday, Poland has responded positively to EU Competition Chief Neelie Kroes that it accepts EC's suggestions on how to rescue the historic yards.

According to the agreement, EC will give a legal guarantee that new owners of the yards will not be burdened with the return of state aid, which amounts to billions of złoty. Investors will have the opportunity to obtain the yards during a public offering debt free, free of state aid and without production limits.

The state treasury, however, maintains that the government did not agree with the abolishment of the ship production, but did agree to the other conditions as outlined by the EC.

Brussels hoped that the Polish government would agree to all elements that include the selling, paying of debts and liquidation of the industry, which according to them, would allow for new industry to emerge and current yard workers to keep their jobs.

Sources: Puls Biznesu, TVN24