PGZ Discloses Its Plans Regarding the Polish Naval Shipyard

ORP Ślązak. Image Credit: M. Dura
ORP Ślązak. Image Credit: M. Dura

Polish Armaments Group announced its plans referring to the Polish Naval Shipyard (Stocznia Marynarki Wojennej – SMW), related to the fact that PGZ Stocznia Wojenna Sp. z o.o company (being a special purpose vehicle) placed an offer, the goal of which would be to acquire the Naval facility finding itself in liquidation bankruptcy. The aforesaid step is to initiate the legal and organizational processes, required to end the liquidation state, applicable to the Polish Naval Shipyard as of now. Finalization of the construction works concerning the ORP “Ślązak” vessel has been defined as the priority for the Polish Naval Shipyard facility.

PGZ’s intention is to consolidate the shipbuilding industry within the Group, mainly due to the necessity to protect the national security interest, above all, within the area related to the Polish Navy, and to implementation of the “Acting against the naval threats” programme, contained within the Technical Modernization Plan drafted for the Polish Armed Forces. Moreover, fulfilling the assumptions of the “Responsible Development Plan” issued by the Ministry of Development, related to restoration of the shipbuilding industry in Poland, is yet another factor, taken into the equation. 

The management of PGZ S.A. assumes that takeover procedures concerning the Polish Naval Shipyard, with the said entity being acquired from the insolvency administrator, carried out by the PGZ Stocznia Wojenna Sp. z o.o special purpose vehicle, are expected to be completed throughout the upcoming months. Within that period, formal consents need to be issued by the Ministry of Defence and Ministry of Maritime Affairs and Inland Navigation. Secondly, the Management of Morski Port Gdynia S.A. (Gdynia Naval Port), must resign from exercising its priority right.

PGZ is willing to prepare the infrastructure of the consolidated shipbuilding industry, in order to implement the modernization programmes in the Polish Navy, especially when it comes to acquisition of the new “Orka” class submarines, “Miecznik” class coastal defence vessels and “Czapla” class patrol and mine countermeasure vessels. The most important task for the Polish Naval Shipyard, after its inclusion in the Polish Armaments Group, would be to finalize the construction works concerning the ORP “Ślązak” patrol vessel.

Polish Armaments Group also plans to modernize the industrial infrastructure of the Polish Naval Shipyard company. Following the inclusion in the structure of the PGZ, the above shipbuilding company would be tasked with building vessels for the Polish Navy and pursue projects that were ordered by the foreign shipowners.

The SMW take-over offer submission option has become valid on 2nd February, during a hearing at the Gdansk Północ District Court in Gdansk. Polska Grupa Zbrojeniowa Stocznia Wojenna company, registered within the National Court Registry on 9th January this year, with a seat in Radom, has, as the only entity, placed its offer and paid the tender security deposit, pertaining sale of the Polish Naval Shipyard which is currently in liquidation. The PGZ’s subsidiary has offered to pay PLN 224 million 909 thousand, which also was defined the starting bid. Once she got acquainted with the offer placed, Magdalena Smółka who is the insolvency administrator, has said that the offer placed is complete, with the offered price corresponding with the estimation amount, and hence, it is going to be selected.