The Industrial Development Agency (ARP) published a press release of the Compensation Administrator concerning the sale of the Shipyards’ assets.

ACTIVITIES OF BUD-BANK, THE INDUSTRIAL DEVELOPMENT AGENCY AND THE MINISTRY OF TREASURY ASSOCIATED WITH SEEKING INVESTORS FOR THE SHIPYARDS WITHIN THE FRAMEWORK OF THE REPEATED COMPENSATION PROCEDURE

According to the adopted schedule, subsequent tenders for sale of the assets of the Gdynia Shipyard and the Szczecińska Nowa Shipyard will be held on 26 and 27 November 2009. The process of resale of the assets is implemented based on the Act of 19 December 2008 on Compensation Procedure at Entities of Special Importance for the Polish Shipbuilding Industry (Journal of Laws No. 233, item 1569). The entity directly responsible for the process of sale of the shipyards’ assets is the Compensation Administrator – Bud-Bank Leasing Sp. z o.o.

In order to reach as many investors as possible, Bud-Bank Sp. z o.o., the Industrial Development Agency, and the Ministry of Treasury launched a large-scale information campaign. Taking active steps aimed at meeting the needs of potential investors interested in purchasing the shipyards’ assets involved engaging, among others, shipyard companies, self-governments, investment funds and using expert consultations. As a result of these activities, representatives of 32 investors visited the shipyards and inspected the assets put up for sale.

Since 30 September 2009, the sale offer for the shipyards’ assets put up for sale in the second tender procedure was sent to more than 1000 entities, including:

1. 257 companies from the shipbuilding sector from all over the world, including Polish shipyards,
2. previous participants of the tender procedure,
3. manufacturers of metal structures, and companies from the smelting industry, the steel industry, the natural gas industry, and the defence industry in Poland and abroad,
4. financial institutions, funds and investment companies, venture capital funds, and consulting companies from Poland and abroad,
5. chambers of commerce in Poland,
6. regional development agencies and economic zones in Poland,
7. embassies and diplomatic representations in Poland and abroad.

Additionally, information on continuation of the process of sale of the shipyards’ assets and on announcing further tenders were sent, among others, to major governmental bodies in Poland (lower and upper chambers of parliament (Sejm and Senat), Ministry of Economy, Polish Information and Foreign Investment Agency (PAIiIZ), Polish Agency for Enterprise Development (PARP), Central Statistical Office (GUS), Public Opinion Research Center(CBOS), Polish Financial Supervision Authority (KNF), Government Legislation Centre (RCL), Office of Competition and Consumer Protection (UOKiK), Public Procurement Office (UZP), Social Insurance Institution (ZUS), Export Credit Insurance Corporation (KUKE), Central Anticorruption Bureau (CBA), as well as to Province Governors’ Offices. The Ministry of Treasury presented the chief of the Internal Security Agency (ABW) with a list of entities, interested in purchasing the shipyards’ assets, whose representatives visited, as part of the tender procedure, the shipyards and inspected the assets put up for sale. Once a month, Commissioner Neelie Kroes is informed of the current status of all relevant activities undertaken within the process of compensation.

The distributed information materials contained the current Rules for Open Tenders and Public Auctions, Shipyard Sale Plans, as well as information letters and letters of intent. For the purposes of the new procedure, the Industrial Development Agency (ARP) also prepared a special issue of its magazine “Gospodarka i Przemysł” (Economy and Industry), presenting the assets of the shipyards, which was sent to 689 entities. The information materials were distributed among potential investors during foreign visits held as part of economic missions organised by the Polish Information and Foreign Investment Agency (PAIiIZ). The representatives of the Industrial Development Agency (ARP) also held a number of meetings with potential investors from Poland and abroad.