Damen Takes Over DSMEs Mangalia Shipyard

Damen Dutch Damen Shipyards Group has entered into a share purchase agreement with South Koreas Daewoo Shipbuilding & Marine Engineering for the acquisition of DSMEs majority share in Daewoo Mangalia Heavy Industries (DMHI) in Romania. With the acquisition of the majority share in the shipyard, Damen said it takes the next step in strengthening its international shipbuilding and ship repair activities. The Daewoo shipyard in Mangalia was established in 1997 as a joint venture between Daewoo and 2 Mai Mangalia Shipyard with Daewoo as majority shareholder. Located on the Black Sea coast, the yard is spread over an area of 980,000 square meters, has three drydocks with a total length of 982 meters and 1.6 kilometers of berthing space. The docks, with a width of between 48 and 60 meters, are expected to provide Damen with the capacity to cater for the largest maritime vessels and structures. Damen already owns a shipyard in Romanian Galati, on the banks of the River Danube, which is currently the group’s largest shipyard. With the Mangalia shipyard, the company said it will have its two largest shipyards in close proximity to one another. The Romanian competition authorities have already approved the envisaged transaction, according to Damen. Furthermore, constructive meetings are being held with the Romanian government in relation to future cooperation in Mangalia and the further development of the countrys shipbuilding industry.