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

Ship & Boat Building, Ship and Boat Building, Article, Gdansk Shipyard

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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.

South Korea, Motor Vehicles & Parts, Transportation Equipment Manufacturing, Mergers, acquisitions and divestments, GM Daewoo Auto & Technology Co.

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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.

Industry GDP, Statistical Data Included, Economic aspects, Germany, Exports, International trade, Industry, Industries

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