COMMISSION DECISION
of 6 November 2008
on State aid C 19/05 (ex N 203/05) granted by Poland to Stocznia Szczecińska
(notified under document C(2008) 6770)
(Only the Polish text is authentic)
(Text with EEA relevance)
(2010/3/EC)
1.
PROCEDURE
2.
DESCRIPTION
2.1.
RELEVANT UNDERTAKING
(PLN million) |
||||||
|
2002 |
2003 |
2004 |
2005 |
2006 |
30.9.2007 |
Turnover |
424,88 |
1 114,44 |
1 303,46 |
1 416,04 |
1 199,38 |
655,87 |
Operating result |
–6,16 |
–39,64 |
– 119,80 |
–11,44 |
– 194,24 |
– 134,36 |
Equity |
65,01 |
62,01 |
112,83 |
247,96 |
149,43 |
81,96 |
Source: 2006 Information Memorandum, submitted by the Polish authorities on 12 October 2007, and ‘Business plan for SSN for 2008-2012 taking into account the information obtained in the course of the due diligence process carried out in the shipyard’, submitted by letter of 29 February 2008. |
2.2.
DECISION TO INITIATE THE PROCEDURE UNDER ARTICLE 88(2) OF THE EC TREATY
2.3.
COMMENTS FROM INTERESTED PARTIES
2.3.1. COMMENTS FROM POLAND
2.3.2. COMMENTS FROM OTHER INTERESTED PARTIES
2.4.
DEVELOPMENTS FOLLOWING THE COMMISSION DECISION TO START THE FORMAL INVESTIGATION PROCEDURE
2.5.
RESTRUCTURING PLAN OF SEPTEMBER 2006
2.6.
RESTRUCTURING PLAN OF JUNE 2008
2.7.
RESTRUCTURING PLAN OF 12 SEPTEMBER 2008
|
Ownership |
Activity |
Capital injections (PLN million) |
Turnover (PLN million) |
Workforce |
Investment programme (PLN million) |
SSN Nowa |
100 % Mostostal |
Shipbuilding — current order book |
434 (State aid) |
In 2009: 680 In 2010: 1 000 Later: 0 |
4 011 in 2009, target — 0 |
None |
SSN Mostostal |
100 % Mostostal |
Steel construction |
80 |
148 (10 %) |
297 in 2009, target — 352 |
59 |
SSN Ulstein |
100 % Ulstein |
Shipbuilding — offshore vessels |
67,3 |
155 (11 %) |
150 |
10 |
SSN Wspólna |
50 % Mostostal, 50 % Ulstein |
Steel prefabrication |
95 |
370-400 (28 %) |
1 062 in 2009, target — 663 |
34,5 |
SSN Biuro Projektowe |
50 % Mostostal, 50 % Ulstein |
Design |
0,2 |
9 (0,6 %) |
150 |
0,5 |
SSN Odra |
100 % Mostostal |
Shipbuilding — ro-pax, ro-ro, chemical tankers |
0,2 |
600-700 (49 %) |
835 in 2010, target — 500 |
None |
Total |
|
|
434 by the State and 242,7 by investors |
1 412 |
1 815 |
104 |
2.8.
COMPENSATORY MEASURES
2.9.
AID MEASURES
No |
Granting body |
Aid instrument |
Legal basis |
Number of decision or agreement |
Date of granting |
Date of effect |
Interest |
Period for which aid was granted |
Nominal value of aid (in PLN) |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
1. |
ARP |
Capital injection |
Act of 15.9.2000 Commercial Companies Code (Dz.U. No 94, 1037 as amended) |
Rep. A No 4528/2004 |
21.12.2004 |
20.6.2005 |
Not applicable |
One-off aid |
61 752 652,83 |
2. |
KPS |
Loan |
Act of 23.4.1964 Civil code (Dz.U. No 16, 93 as amended) |
Agreement No 1/10/2005 |
13.10.2005 |
14.10.2005 |
1M WIBOR + 2 % |
13.4.2006 |
20 000 000,00 |
3. |
KPS |
Loan |
Act of 23.4.1964 Civil Code (Dz.U. No 16, 93 as amended) |
Agreement No 1/2/2006 |
15.2.2006 (annexes: 27.4.2006, 24.8.2006, 26.9.2006, 27.11.2006, 21.12.2006, 31.1.2007) |
21.2.2006 27.4.2006 27.9.2006 16.2.2007 21.2.2007 30.3.2007 1.5.2007 31.5.2007 |
No data |
31.8.2009 |
68 405 400,00 (USD 18 000 000,00) |
4. |
KPS |
Loan |
Act of 23.4.1964 Civil Code (Dz.U. No 16, 93 as amended) |
Agreement of 12.1.2007 |
12.1.2007 |
3.4.2007 5.4.2007 16.4.2007 26.4.2007 30.4.2007 16.5.2007 31.5.2007 |
No data |
31.1.2009 |
82 902 937,50 (USD 21 375 000,00) |
5. |
KPS |
Loan |
Act of 23.4.1964 Civil Code (Dz.U. No 16, 93 as amended) |
Agreement No 1/2/2007 |
9.2.2007 (annexes: 29.3.2007, 4.4.2007) |
9.2.2007 |
WIBOR 1M + 2,25 % |
27.4.2007 |
12 200 000,00 |
6. |
KPS |
Loan |
Act of 23.4.1964 Civil Code (Dz.U. No 16, 93 as amended) |
Agreement No 2/2/2007 |
12.2.2007 |
12.2.2007 |
WIBOR 1M + 2,25 % |
12.8.2007 |
14 300 000,00 |
Total |
259 560 990,33 |
No |
Granting body |
Aid instrument |
Legal basis |
Date of granting |
Nominal value of aid (in PLN) |
1 |
2 |
3 |
4 |
5 |
6 |
7. |
KPS |
Capital injection |
Agreement |
7.8.2007 |
9 999 954,69 |
8. |
KPS |
Capital injection |
|
7.8.2007 |
33 999 919,80 |
9. |
ARP |
Capital injection |
Agreement between SSN and ARP on State aid in the form of a capital injection |
19.9.2008 |
86 000 151,93 |
10. |
ARP |
Loan |
Act of 30.8.1996 on commercialisation and privatisation (Dz. U. 02.171.1397 as amended) |
5.12.2007 |
49 000 000,00 |
11. |
ARP |
Loan |
Agreement OPP/3/08 |
6.2.2008 |
41 000 000,00 |
12. |
KPS |
Loan |
Agreement 1.11.2007 |
23.11.2007 |
9 000 000,00 |
13. |
KPS |
Loan |
Agreement 1.3.2008 |
5.3.2008 |
20 000 000,00 |
14. |
ARP |
Loan |
Agreement OPP/5/08 |
30.9.2009 |
32 250 000,00 |
15. |
KPS |
Loan |
|
12.8.2007 |
4 709 380,37 |
16. |
ARP |
Debt for equity swap |
Rep. A. No 6603/2008, 8014/2008 |
20.6.2008 |
110 999 077,11 |
17. |
KPS |
Debt for equity swap |
Rep. A. No 6603/2008, 8014/2008 |
20.6.2008 |
20 572 770,24 |
Total |
417 531 254,1 |
No |
Granting body |
Aid instrument |
Liability |
Amount outstanding (in PLN) |
12. |
City of Szczecin |
Deferral |
Real estate tax debt accrued between July 2003 and December 2004 |
12 402 000,00 |
3.
ASSESSMENT
3.1.
COMPETENCE OF THE COMMISSION
3.2.
STATE AID WITHIN THE MEANING OF ARTICLE 87(1) OF THE EC TREATY
3.2.1. EXISTENCE OF STATE AID
(a)
Non-enforcement of public-law liabilities
(b)
Measures contested by Poland as passing the market economy investor test
(c)
Distortion of competition caused by the State aid to SSN
3.2.2. OPPORTUNITY FOR POLAND AND INTERESTED THIRD PARTIES TO SUBMIT COMMENTS
3.3.
COMPATIBILITY OF THE AID: EXEMPTION UNDER ARTICLE 87(3) OF THE EC TREATY
3.3.1. ELIGIBILITY OF THE COMPANY
3.3.2. RESTORATION OF VIABILITY
3.3.3. AID LIMITED TO MINIMUM
3.3.4. AVOIDANCE OF UNDUE DISTORTION OF COMPETITION
3.3.5. CONCLUSION
4.
IMPLEMENTATION
Article 1
Article 2
Article 3
Article 4
Article 5
Article 6
Article 7
Article 8
Article 9
ANNEX
INFORMATION REGARDING THE IMPLEMENTATION OF THE PRESENT DECISION
1.
Calculation of the amount to be recovered
Date(s)(1) |
Amount of aid(2) |
Currency |
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2.
Measures planned and already taken to recover the aid
3.
Recovery already effected
Date(s)(3) |
Amount of aid repaid |
Currency |
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