Shipyard problems multiply

Alan Heath
opublikowano: 2002-07-15 00:00

Marine engine manufacturer Hipolit Cegielski Poznan (HCP) has found itself in a critical situation as Bank Zachodni WBK has called in a PLN25m loan signed last November by enforcing the seizure of the company bank account. The company was a major supplier to the now bankrupt Szczecin shipyard from whom it now has PLN150m outstanding. The bank claims that the company did not respect an annex to the November contract signed in April.