The Gdynia and Szczecin yards were bought by the United International Trust through  bids held by the Treasury Ministry.

Agnieszka Bielawska reports

United International Trust paid 64 million euros for 25 out of the 31 auctioned assests of the Gdynia shipyard. Ten of the eleven assets of the Szczecin shipyards went for 36 million euros. In both cases the purchase concerned components used in production, with the investor declaring the will and readiness to continue with the ship construction. The announcement of the investor gave rise to speculations in Poland as to who stands behind United International Trust. Possibilities vary from sheiks to Dutch investors.

Many analysts consider that the purchase of the yards spells good news for improving the condition of the Polish shipbuilding industry. However for many, the undivulged identity of the new owner questions his reliability and proffessionalism.

Last year the European Commission ordered Poland to sell the Gdynia and Szczecin yards, after ruling that the state aid granted to the two shipyards broke EU law and had to be paid back.

The third shipyard in Gdansk, which has already been privatised to ISD Polska - a unit of Ukraine's Donbass is awaiting a separate European Commission decision on the state aid it had received.

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