Gdansk Shipyard seeking aid to avert bankruptcyGdansk Shipyard seeking aid to avert bankruptcy
Poland-based Gdansk Shipyard has warned that the company was on the verge of bankruptcy and needed massive cash injection to survive, a news report said.

Sergei Taruta, whose steel company ISD owns 75% of the shipyard, told the Financial Times: “The situation is being pushed to the limit. To save the shipyard we have only days, not weeks or months.”
Taruta revealed to the newspaper that Gdansk needed about PLN180m ($58m) to continue functioning.
He added that the Polish government, which owns 25% of Gdansk, has not expressed interest in developing the yard, even though the company has appealed for help.
Taruta would like the government to release a lien on a mortgage on the shipyard's production hall, which would allow the yard to borrow the money needed to continue functioning.
From 2011 to the end of the first half of 2013, the yard made a loss of PLN375m on sales of PLN540m.
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