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Major deal in Romanian industry: Dutch Damen, ready to buy Daewoo Mangalia shipyard

Italy’s Fincantieri, interested in taking over Mangalia Shipyard, sources

Trieste-based Fincantieri shipbuilding company, one of the world’s the largest shipbuilding groups, with over EUR 4 billion annual turnover, also controlling the Norwegian group Vard, the owner of the shipyards in Tulcea and Braila, sent the Romanian Government an operational management offer for the Mangalia Shipyard and then, buying 49 percent of its shares, sources said for profit.ro.

Recently, the Gov’t announced that is blocking the transaction by which Dutch Damen Shipyards had bought from Daewoo the majority stake of Mangalia Shipyard, so that the state would become the sole owner.

Since 1997, Mangalia Shipyard is 51 percent owned by the South Korean Daewoo Group, with the remaining 49 percent belonging to the Romanian Government.

At the shipyard in Mangalia, one of the largest in the country, 127 oil and container ships were built over time and 300 other vessels were repaired.

 

 

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