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Damen acquires Daewoo's shares in Daewoo Mangalia Heavy Industries

Damen Shipyards Group has entered into a share purchase agreement with Daewoo Shipbuilding & Marine Engineering for the acquisition of its majority share in Daewoo Mangalia Heavy Industries.

2017-11-13 16:47:17

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

With the acquisition of the majority share in the shipyard in Mangalia, Damen takes the next step in strengthening its international shipbuilding and ship repair activities. The Mangalia shipyard is located on the Black Sea coast. The yard is spread over an area of 980,000 sqm, has three drydocks with a total length of 982 metres and 1.6 kilometres of berthing space.

Damen already owns a shipyard in Romania, in Galati on the banks of the River Danube, currently the group's largest shipyard. The Romanian competition authorities have already approved the envisaged transaction.



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