Buyers found for troubled shipyards

22nd May 2009

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The troubled shipyards of Szczecińska Nowa in Szczecin and Gdynia have both been sold off to United International Trust following a demand by the European Commission (EC) that they should be put up for auction

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“The investor has bought the main assets needed to continue producing ships. In two weeks time detailed plans by the investor will be announced,” said Treasury Minister, Aleksander Grad last Friday after the sale of the Gdynia Shipyard was announced.

United International Trust bought 25 of the 31 available assets for Gdynia at a fee of around PLN 288 mln (EUR 64mln). The rest were sold off on Thursday. Estimates put the total figure for the shipyard at PLN 400 mln (EUR 90 m ...

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