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2017 Nov 16

Damen acquires Daewoo’s Mangalia yard

Damen is to acquire a majority share in Daewoo Shipbuilding & Marine Engineering’s Mangalia shipyard in Romania, Daewoo Mangalia Heavy Industries (DMHI).

Damen views the deal as the next step in strengthening its international shipbuilding and ship repair activities. The Mangalia shipyard, located on the Black Sea coast, is spread over an area of 980,000m2. Its three drydocks boast a total length of 982 metres, with 1.6 kilometres of berthing space. The docks, with a width of between 48 and 60 metres, will provide Damen with capacity to cater for the largest maritime vessels and structures.

Damen already owns a shipyard in Romania, in Galati on the banks of the River Danube. It was acquired in 1999 and is currently the group’s largest shipyard. With the Mangalia shipyard, Damen will have its two largest shipyards in close proximity to one another.

The Romanian competition authorities have already approved the envisaged transaction. Damen also reported constructive meetings with the Romanian government in relation to future cooperation in Mangalia and the further development of the Romanian shipbuilding industry.

The shipyard was established in 1997 as a joint venture between Daewoo and 2 Mai Mangalia Shipyard, with Daewoo as majority shareholder.

Source: www.motorship.com

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