Polish Naval Shipyard: Last Stage of the Takeover Process

28 października 2017, 15:11

The process, through which the property of the Polish Naval Shipyard is acquired by the PGZ Group, is being continued by the administrator of the Stocznia Marynarki Wojennej S.A. in bankruptcy company (SMW) and by the PGZ Stocznia Wojenna Sp. z o.o company (PGZ War Shipyard). 

The entities involved in the aforesaid project have obtained all of the declarations required, pertaining to not-using of the pre-emptive rights by the Port of Gdynia, city of Gdynia and the Treasury, along with all approvals issued by the Polish MoD and the Polish Ministry of Maritime Affairs and Inland Navigation. The last condition that needs to be met is seen in acquisition of an approval from the President of the Polish Office of Competition and Consumer Protection (UOKiK).

The acquisition is taking place in line with Article 346 of the Treaty on the Functioning of the European Union, with the state security interest being taken into account. Both the administrator, as well as the Management Board of the PGZ War Shipyard, are making all of the efforts required to make the takeover procedure, despite the convoluted nature of the legal process, rapid, smooth and efficient.

The PGZ Group made a decision to acquire the Polish Naval Shipyard in order to complement and establish relevant competency in the area of shipbuilding, overhauls and modernization, with regards to warships, for the purpose of meeting the requirements of the Polish Armed Forces, as well as, should a need arise, to conform with potential export contracts requirements.

One of the main arguments supporting the investment in the Naval Shipyard is also seen in the need of providing full security for functioning of the Polish Navy.

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