Shipbuilding group to be created this summer

The European Bank for the Reconstruction and Development (EBRD) is expected to purchase 2.5 million shares issued by the group. The holding group will include the Szczecin and Gdynia shipyards, the Cegielski Company and the Czestochowa Steelworks, when privatized. "The decision to set up a holding group was made at the worst possible moment," said Piotrowski, explaining that the Gdynia Shipyard faces a dire situation and may go bankrupt unless restructured. The new group may hold 4.0% to 4.5% of the world's shipbuilding market. (Nowa Europa, March 29-31, page 1, Gazeta Wyborcza, March 29-31, page 25)