PGZ to acquire Stocznia Marynarki Wojennej – preliminary agreement signed

Stocznia Marynarki Wojennej to be acquired by PGZ
Stocznia Marynarki Wojennej to be acquired by PGZ

On 26 May 2017 PGZ Stocznia Wojenna Sp. z o.o. (subsidiary of Polska Grupa Zbrojeniowa – PGZ or Polish Armament Group) and the Official Receiver of Stocznia Marynarki Wojennej SA (Naval Shipyard) in liquidation bankruptcy signed a preliminary agreement regarding the purchase of Stocznia Marynarki Wojennej SA in liquidation bankruptcy. It is a further step towards including Stocznia Marynarki Wojennej in the structure of Polska Grupa Zbrojeniowa.Before it was signed, the preliminary agreement regarding the purchase of Stocznia Marynarki Wojennej SA in liquidation bankruptcy had been acknowledged in the presence of the Magistrate in Bankruptcy supervising the proceedings. Entering into the agreement is a key moment in the process of including Stocznia Marynarki Wojennej SA in the structure of Polska Grupa Zbrojeniowa. This means the launch of a formal procedure to obtain necessary permits from various bodies and institutions, namely the Ministry of National Defence (Ministerstwo Obrony Narodowej), the Ministry of Marine Economy and Inland Waterways (Ministerstwo Gospodarki Morskiej i Żeglugi Śródlądowej), the City of Gdynia, and the Management Board of Morski Port Gdynia SA.

The ownership title to the enterprise and the enterprise itself will be transferred to PGZ Stocznia Wojenna Sp. z o.o., being a member of Polska Grupa Zbrojeniowa, after the conditions referred to in the agreement are met, which, as presumed by the Parties, may take about three months.

Entering into the preliminary agreement regarding the purchase of Stocznia Marynarki Wojennej SA will also make it possible for the purchaser, i.e. for PGZ Stocznia Wojenna Sp. z o.o., to perform due diligence within the scope of technical, financial and legal matters, which will determine activities connected with performance of the transaction.Acquired shipyard assets will be of utmost importance for key defence and economic projects of the Republic of Poland, i.e. for the operational program called “Zwalczanie zagrożeń na morzu” (“Combating Threats at Sea) included in Plan Modernizacji Technicznej Sił Zbrojnych RP (Plan for Technical Modernization of Armed Forces of the Republic of Poland) and for “Batory” development program included in Plan na Rzecz Odpowiedzialnego Rozwoju (Plan for Sustainable Development).

Stocznia Marynarki Wojennej SA in liquidation bankruptcy constructs and repairs Polish Navy ships and other civilian vessels. The area owned by Stocznia Marynarki Wojennej SA adapted to produce ships covers the total surface of 325,344 m². The most important elements of industrial infrastructure, being also the key assets of Stocznia Marynarki Wojennej S.A., include a floating dock, a ship lift, and specialized shipbuilding stations.

Polska Grupa Zbrojeniowa (PGZ) concentrates over 60 companies (fields: defence, shipyards, new technologies), reaching annual revenues at PLN 5 billion.

rel (PGZ)

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