Consortium to run Gdansk Yard
Article Abstract:
Gdansk Shipyard of Poland has signed an agreement for its sale for $31.3 million to a consortium pledging modernization of the yard and creation of new jobs. Gdynia shipyard and consulting company Evip Progress created the consortium to acquire the historic yard, with debts of 628 million zlotys. The new owners, which pledged to keep the shipyard as a separate company, agreed to spending $80 million to $100 million until 2010 for modernization and increase the 2,000-member workforce to as much as 3,500 to 4,5000. The consortium's offer was selected in July 1998 by the government receiver, which managed the facility since being declared bankrupt in August 1996.
Comment:
Signs an agreement for its sale for $31.3 million to a consortium pledging modernization of the yard and creation of new jobs
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Daewoo Motor is set to ber sold at auction
Article Abstract:
Daewoo Motors of South Korea will be sold through a closed bidding process. The process is seen as an attempt by the company's creditors and the government to maximize benefits from the sale.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
Industrial output heats up in Poland, surpasses forecasts
Article Abstract:
Poland's industrial output exceeded analysts' expectations, rising 16.3% from its 1999 standing as of this February. In part, this resulted from an increase of exports to Germany.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Down-to-Earth airfares. Successful heavy-lift shipping: planning ahead is essential. Purchasing consortia boost profits
- Abstracts: Football fans set to score financial goal Data bill to clamp down on abuse
- Abstracts: Credit Suisse is first to unveil loss on Russian exposure. IMF seeks Russian Central Bank details; draft report finds no irregularities in affiliates
- Abstracts: UNIM details reserves to benefit shareholders. Aerospatiale aims to form alliance of missile firms
- Abstracts: Exchanges in cross-membership pact. CASA to further consolidation by joining EADS