Stocznia Gdynia does not receive capital

APA - Austria Presse Agentur
opublikowano: 09-03-2006, 16:23

Warsaw (Puls Biznesu) – The Treasure blocked raising capital in Stocznia Gdynia shipyard.

Warsaw (Puls Biznesu) – The Treasure blocked raising capital in Stocznia Gdynia shipyard.

Stocznia Gdynia has been trying to get funds for investment and restructuring since February. Yesterday, during the third and final part of the GSM, the Ministry of the Treasure and state entities: the Agency of Industrial Development and the Corporation Polish Shipyards, decided not to vote it.

“The ministry is analyzing the situation. We will make the decision in upcoming days, which will be best for the shipyard and its employees”, Marcin Mazurek, the spokesman of the Ministry of the Treasure said.

The problems concern the value of the capitalization. The shipyard wanted PLN 110m (EUR 28.4m) of increase while state owners believe it needs PLN 250m. Another reason is that the state may not want to let an investor get into Stocznia Gdynia before Stocznia Gdanska which is strongly related to it, is divided from it.

Meanwhile, Stocznia Gdynia needs money. It has over PLN 200m of debts. On March 20th, a GSM will decide whether it is going to run business or go bankrupt.


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Podpis: APA - Austria Presse Agentur