Shipyards: Złomrex to take over sinking shipyards

The Treasury Ministry is currently negotiating the takeover of the Gdynia and Szczecin shipyards by Amber, a company established by steel-industry group Złomrex. Amber was the only bidder in both tenders for the sale of the shipyards, and has already gained exclusive negotiation rights with the Treasury for the Gdynia Shipyard, the price for which should be known by mid-April. It is not known exactly when the price for the Szczecin shipyard, Stocznia Szczecińska Nowa, will be determined, but the Treasury is expected to make a final decision on prices and conditions for both shipyards by the end of April.

One of the main sticking points in the negotiations is the status of the shipyards' debts. Amber is insisting that the Treasury pay off the shipyards' heavy debts before it takes over the firms. The shipyards are so debt-saddled that the government has been lending each of them zł.100 million every two months to cover operating expenses.

"In the case of Gdynia Shipyard, we are negotiating the amount which we believe the state should invest in the firm. It is hard to say whether it is [at the lower end of] zł.500 or [at the higher end of] zł.800 million," Złomrex president Przemysław Sztuczkowski told daily Parkiet.

According to estimates by Gdynia Shipyard, the Treasury should invest zł.515 million in the company's debts and modernization, while a strategic investor ought to pump at least zł.500 million into the firm.

February saw a meeting between Sztuczkowski and labor unions at Stocznia Szczecińska Nowa, to discuss Amber's plans. During the meeting Sztuczkowski said that Złomrex wanted to continue shipbuilding at the company, but that it also wanted to implement new technologies and produce steel constructions.