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Owner says Gdansk shipyard needs bailout to stave off bankruptcy

PR dla Zagranicy
Peter Gentle 02.10.2013 11:03
The Ukrainian major shareholder of the historic Gdansk shipyard says the plant urgently needs around 180 million zloty (4.5 million euro) to keep it afloat.

photo - photo: sxc.hu

Sergei Taruta, who owns the ISD company which bought a 75 percent stake in the yard - which gave birth to the Solidarity trade union - in 2007, appealed to the state treasury to help bailout the loss-making firm, which reportedly lost 373 million zloty in the last 18 months.

"Gdansk shipyard is in a very difficult situation," Taruta, a Ukrainian steel-magnate, told Polish Radio, adding that he is able to provide an extra 80 million zloty for the plant, if the government can find the extra 100 million.

The Polish government has said, however, that its Industrial Development Agency will not provide any more cash to bailout the sinking shipyard, and also accused Taruta of syphoning off funds from Gdansk back to Ukraine.

Around 1800 workers are employed at the plant, down from 14,000 employees during the protests which erupted there in 1980, which resulted in Solidarity becoming the first independant trade union in the then communist bloc. (pg)

tags: gdansk, shipyards
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