Steel distributors interested in Polish yards

KEM and Zlomrex, which deal in steel and scrap trade, have expressed an interest in investing capital in, respectively, Gdanska and Szczecinska Nowa shipyards. They are the latest in a growing number of private investors interested in the booming shipyard market. Several months ago, Roman Karkosik said he was interested in acquiring Stocznia Gdanska shipyard. Ukrainian Donbas submitted an offer to buy Stocznia Gdynia shipyard and, recently, the shares of Stocznia Gdanska were acquired by state-owned Centrala Zaopatrzenia Hutnictwa steel company.

“We have started negotiations with KEM but we are not happy”, Andrzej Jaworski, Stocznia Gdanska CEO said. The shipyard is looking for a partner who would have funds to, initially, increase its capital by PLN 50m (EUR 12.7m) and, at a later stage, by PLN an extra PLN 150m. KEM would need to take a credit, according to unofficial sources.

It may be easier for Zlomrex to buy Stocznia Szczecinska Nowa although a foreign investor is also interested in acquiring a stake in the state-owned shipbuilder. The yard wants to invest PLN 190m and expects PLN 95m from the capital increase.