The merger process of Gryfia ship repair yard in Szczecin and Morska Stocznia Remontowa Świnoujscie (marine ship repair yard in Świnoujście) started in October 2012. The newly merged company will continue the operations under the name: Morska Stocznia Remontowa Gryfia SA and its registered office will be in Szczecin.

According to the plan approved by the Supervisory Boards, all assets of the shipyards have been transferred to MSR Gryfia SA. The share capital of the Gryfia Ship Repair Yard in Szczecin has increased from PLN 31 million to PLN 51 million by issue of 2,000,000 registered B-series shares with the a nominal value of PLN 10.00 each.   The merger shares will be taken up by the current shareholders of the yard in Świnoujście, under the exchange ratio of 5 shares of the merged company to 1 share in the Świnoujście yard. The employees will hold the total of 12.2 shareholding.

MSR „Gryfia” S.A. employs over 800 individuals in Szczecin and Świnoujście. The new company’s equity amounts to PLN 67.9 million and its balance sheet total is PLN 122.8 million.    The target revenues should exceed PLN 200 million.  With 80.29 per cent of shares to its name, MARS Fundusz Inwestycyjny Zamknięty is the principal shareholder of the company.  MARS FIZ is managed by MS Towarzystwo Funduszy Inwestycyjnych S.A. owned by Agencja Rozwoju Przemysłu S.A. The employees hold 12.24 per cent of shares in the company, whereas 7.46 shareholding is owned by the State Treasury.

ŁP