Between 2002 and 2006 Gdynia Shipyard produced 48 vessels.

The financial situation of Gdynia Shipyard has gradually worsened.

As indicated above, the Commission maintained regular contacts with the Polish authorities as the owner of Gdynia Shipyard and with Gdynia Shipyard itself.

Gdynia Shipyard has not been able to obtain funding for its production from any other external source.

The restructuring of Gdańsk Shipyard began as early as 1998, immediately after it was declared bankrupt and its assets were taken over by Gdynia Shipyard.

ISD Polska also purchased most of the existing shares in Gdańsk Shipyard from Gdynia Shipyard, the IDA and its subsidiary Cenzin.

Gdynia Shipyard is therefore a firm in difficulty within the meaning of the Guidelines.

These doubts were confirmed by actual developments in the privatisation process of Gdynia Shipyard.

According to Gdynia Shipyards balance sheet, the yards holding in Synergia 99 amounts to PLN 40 million.

Considering the yards precarious financial situation, the Commission cannot exclude that further State aid of a similar nature has been granted to Gdynia Shipyard.

The aid recipient is Gdynia Shipyard. The firm is based in the Gdańsk-Gdynia-Sopot region in the north of Poland.

The recipient asserted that no other EU shipyard built car carriers and that therefore Gdynia Shipyard was not competing in this segment with any other EU shipyard.

The plan bases the projections for the first few years on existing contracts concluded by Gdynia Shipyard.

The guarantees granted to Gdynia Shipyard are part of the business re-guaranteed by the Treasury.

Gdynia Shipyards main production facilities include two dry docks, SD I and SD II.