Stocznia Gdynia shipyard seeks 75% of Finnish yards

In 2001 the British-Norwegian Kvaerner concern intends to resume negotiations on the sale of two Finland-based shipyards, Masa Yards in Turku and Helsinki, from which they withdrew last April. Stocznia Gdynia (SG) is interested in purchasing a 75% share in the negotiations slated to begin at the end of next year. According to Janusz Szlanta, president of SG, the money for the transaction will be raised through an issue of public shares, but he refused to disclose how large the planned issue would be. This year SG will increase its sales by 40%, delivering 25 ships for a total of $570 million. (Puls Biznesu, p.5)