Last weekÃs decision by the government to bail out the Szczecin shipyard by renationalising it could open the floodgates for all sorts of companies to come cap in hand to the state. Both economists and certain politicians are concerned as decisions will not be made for hard headed business reasons but by politicians and civil servants who may have a totally different agenda.
Until only a couple of years ago the shipyard was very profitable, it hit cash flow difficulties last October and was unable to finance on going operations.
The government probably has not yet had the chance to think of a long term strategy for the shipyard. The Gdynia shipyard group, however, thinks that it would be a good idea to merge the Szczecin and Gdynia shipyards.