Szczecin shipyard sold

Szczecin shipyard

The shipyard in Szczecin, north-western Poland, has been sold for PLN 100 million to a Polish investment fund, Prime Minister Beata Szydło said on Monday. “The agreement concerning the sale of the shipyard to the Mars Investment Fund shows that projects prepared by the government are not only in the concept phase, but become actual achievements,” Szydło said.

The agreement for the equivalent of EUR 22.88 mln was signed on Friday

Production at the shipyard was halted in January 2009. The European Commission has concluded that public aid granted by the previous Polish government to the shipyards in Szczecin and Gdynia was illegal. The assets of the Szczecin shipyard were sold and the employees were laid off.

In 2009 the then-Polish government was close to signing a deal with Qatari authorities for the ailing shipyard, but the deal fell through at the last minute.

According to the website of Mars Shipyards & Offshore, the company “is a group of closely cooperating shipyard and offshore companies owned by the MARS Closed-End Investment Fund. The fund is managed by the MS Investment Funds Society, a daughter company of the Polish Armament Industrial Group.”

The Polish Armament Industries Group (PGZ) is a state-owned company producing weapons and military equipment.

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