Warsaw (Puls Biznesu) – Stocznia Szczecinska Nowa (SSN) shipyard had problems with financing. Politicians helped as usually. They started with the state-owned export credit insurance corporation.
“SSN shipyard has problems with financing. We have had signals that production could be stopped. Today, however, it is signing agreement with state-owned export credit insurance corporation KUKE and banks, so the situation should calm down”, a representative of the shipyard industry said.
“Contracts are being signed right now”, Anita Szczecinska, KUKE spokeswoman said.
Thanks to the contract with KUKE, SSN had guarantees worth USD 30m.
“Signing agreement with KUKE lets the shipyard get a bank credit and operate normally”, a person representing the shipyard’s management explained.
He admits that production would have to be stopped otherwise.
Shipyard’s representatives say that talks with KUKE had been going on for eight months. KUKE could not give the guarantees because SSN was not able to provide all the documents required. The shipyard lobby used old good methods: warned with strikes, bankruptcy, asked MPs and local politicians to influence the other decision-makers. According to unofficial sources, even PM Jaroslaw Kaczynski was involved. The measures helped. Although KUKE credit committee was supposed to meet in the middle of February, it met on Monday and signed contract with SSN on Tuesday.