EU delaying Gdynia Shipyard decision

The restructuring plans for the Gdynia Shipyard Group in Poland faces delays as the EU commission in Brussels is purportedly dragging its feet

Two earlier schemes have already been aborted because the company was unable to implement them. Now the EU Commission is delaying its approval of the document and it is not clear when Brussels will finally make a decision. Without this approval, Gdynia Shipyard cannot receive the Treasury’s warrant for the credits needed to finance the building of ships. It has also emerged that the restructuring plan’s directive for increasing of the company’s equity has not been fulfilled.