Rheinmetall acquires Mangalia Naval Shipyard for 138 million euros

German defense giant Rheinmetall has acquired the assets of the Mangalia Naval Shipyard for 138 million euros. The acquisition, handled through Rheinmetall Real Estate Romania, follows a judicial liquidation process. The shipyard is a strategic facility in Romania, being the only one in the country capable of constructing and repairing warships.

Under the European SAFE program, the shipyard is expected to produce four vessels for the Romanian Naval Forces by 2030. While the acquisition has brought hope for the resumption of industrial activity and the return of former employees, the financial implications for the parent company, Șantierul Naval 2 Mai (STNM), are complex. Although STNM shares rose by 30% on the Bucharest Stock Exchange following the news, the company will not receive direct proceeds from the sale, as the 138 million euros will first go toward settling DSMa's estimated debts of approximately 190 million euros.

STNM, which holds a 51% stake in the shipyard, currently holds an 8.6 million lei claim against the shipyard primarily for unpaid rent. Any recovery of these funds would contribute directly to the company's profit.