Application for state rescue aid as an individual measure, filed by PBG with Agencja Rozwoju Przemysłu
After several weeks of preparations, on July 27th 2012 PBG filed an application with Agencja Rozwoju Przemysłu (the Industrial Development Agency) seeking to obtain state rescue aid in the form of a loan. The loan would be repayable after a six-month period or upon the grant of restructuring aid once the requirements as to the time limit for submitting a restructuring plan to the European Commission are met.
The loan application is the first step towards securing state aid. As the next step, PBG intends to file an application for restructuring aid.
"Funds obtained as public aid would be applied towards financing of the Company's operations," said Wiesław Różacki, President of the PBG Management Board.