Gdynia May Take Stake in Kvaerner Masa-Yards

Poland's Gdynia shipyard is likely to take a percentage of shares in the Finnish Kvaerner Masa-Yards, Gdynia's officials said. Negotiations with other investors are still under way, they said, but all indicators suggest that Gdynia will take up a stake of between 20 and 25 percent. Apart from Gdynia, Masa-Yards investors include a group of the Finnish shipyard's management, suppliers and insurer Sampo, Kvaerner and Royal Caribbean, a regular buyer of the shipyard's vessels. After radical restructuring in he early 1990s, Gdynia is now the world's eighth biggest shipyard and through buying into Masa-Yards wants to diversify its production.