Shipyard restructuring could founder after stormy protest

The restructuring of the country's shipyard sector began almost three years ago and since then the State Treasury spent a total of zł.2.3 billion on the project. However, the influence of this cash injection is difficult to detect. It had been envisaged that KPS would be formed in June, however, minority shareholders of SG protested against the decision by the shareholders meeting to raise the company's capital. This means that the sector's consolidation is now uncertain as SG will not now issue new shares, from which it was hoped that SG capital would have been increased by zł.300 million. "The blocking of this increase in the capital of SG is acting against the company's benefit. That can seriously hinder implementation of the restructuring program," said Arkadiusz Krężel, author of the idea to create KPS. The management of SG claim they have no knowledge of the minority shareholders' protest. (Puls Biznesu, pp. 1, 4) D.W.