Brussels approves of its own plan for Polish shipyards

MAG
opublikowano: 07-11-2008, 14:11

Warsaw (Puls Biznesu) – New investors should appear in Gdynia and Szczecin shipyards till June. The companies have more time but they need investors right now.

The European Commission said yesterday that public subsidy which Polish shipyards had received amounting to EUR 3.5bn was illegal. At the same time, Brussels approved of the plan to sell the assets and debts of Gdynia and Szczecin shipyards. They must pay back the subsidies. They cannot afford this and they will be closed down. The decision of the EC is no surprise as several weeks ago, Neelie Kroes, EU competition commissionaire, came up with this solution. The plan is not provided by Polish law which will need to be amended.

Future investors won’t have to ensure that employment remains unchanged. There may be no future investors, however. Employees of Stocznia Gdynia expect that their wages cost PLN 15m (EUR 4.1m) monthly, jointly with production costs the company needs PLN 30-40m each month. The situation is similar in Szczecin. Meanwhile, Brussels does not agree for subsidies until investors buy the shipyards. The law will be amended in December or January.

(PLN 1 = EUR 0.274)

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Podpis: MAG

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