New bidders for Polish shipyards

The Norwegian shipyard Ulstein Verft AS wants to purchase the ?Nowa? Shipyard in Szczecin, northwest Poland and the company ETA Ascom Star from Dubai, owned by Star Holding, owner of a shipyard in China and 36 vessels, is, according to Polish sources, interested in buying the Gdynia Shipyard.

At a meeting with the Polish Team for Co-ordination of Privatisation of Shipyards, representatives of the Norwegian investor said the shipyard in Szczecin had all necessary resources for the production of highly specialised vessels to service oil rigs. The Norwegians said that soon a letter of intent regarding the transaction should be expected and they expressed their interest in a prompt meeting with the European Commission (EC) to discuss the purchase.

By 24 June, the Polish government has to present before the EC a plan for the restructuring of Gdansk Shipyard and privatisation of the shipyards in Gdynia and Szczecin. Should they fail to do so, each shipyard may lose 500 million euros received in state aid since Poland?s accession to the EU in May 2004.