Gdynia and Gdanska to split

Gdynia shipyard recently submitted to the Polish Treasury, a proposal to sell Stocznia Gdynia.

Meanwhile, the Polish government will prepare a list of measures necessary to implement the splitting up of the two shipyards. Stocznia Gdynia has valued Gdanska at PLN 80m (EUR 20.1m). Trade unions want the Treasury Ministry to withdraw its stake in Stocznia Gdynia, and instead acquire Stocznia Gdanska. Should this happen, then two private investors will, it is claimed, invest in Gdynia shipyard.

Ray Car Carriers and Mediterranean Shipping Co. did offer to inject PLN 150m in the company but the previous government was, at the time, planning consolidation of the shipyard industry which discouraged the two potential investors. Industry sources suggest that the offer from Ray Car Carriers and MSC may be renewed. The other possibility is for another shipbuilder, such as Aker of Norway, to take over the Gdansk yard.

Gdynia and Gdansk shipyards decided in the 1990?s to merge but, after three years of state restructuring, the company is now facing bankruptcy. Stocznia Gdynia is ready to give up Stocznia Gdansk because the European Commission views the privileged state shares as being a public subsidy.