On 15 November shareholders of Gdańsk based Centromor will be voting on a motion to increase capital from PLN5m to PLN9.8m.
The shares will be taken by Grupa Przemysłowa which is also a shareholder in the Szczecin shipyard.. In effect this will mean that Centromor will be getting almost a twenty percent stake of the shipyard as it will exchange a fifty percent holding in its own stocks for them.
It is hoped that the new business will save the company from stagnation. This hope largely lies in the Porta Petrol fuels terminal near Świnoujście which recently started operations after being delayed for a long time and which will become the basis of this new business.
At the same time as going into the fuels business, Centromor will pull out of its retail scheme.
The Euromarket shopping centre in Gdynia was the first large shopping centre in the area although it now has a number of competitors. Clearly it does not fit in with the new business plan.
Alongside the Gdynia and Szczecin shipyards and the Gdańsk repair shipyard, Centromor is one of the largest Polish shipyard holdings. It has a stake in 21 other businesses as well as dealing in ships and transport services.