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[BUSINESS] · Romania · 15 sources

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Rheinmetall acquires Mangalia Shipyard for 138 million euros

Rheinmetall Real Estate România SRL has acquired the Mangalia Shipyard from the insolvent Damen Shipyards Mangalia for approximately 138 million euros, excluding VAT. The acquisition was finalized during the fifth auction attempt after four previous attempts failed to attract buyers at a higher starting price of 184 million euros.

The sale follows a period of financial difficulty that led to the shipyard's insolvency and the dismissal of over 1,000 employees. The Romanian government has welcomed the deal, noting that it is a strategic step toward revitalizing one of the country's most important industrial assets and transforming it into a major European center for military naval construction.

As part of the agreement under the European SAFE Program, Rheinmetall is expected to fulfill a 920 million euro contract with the Romanian government to build four military vessels at the site by 2030. This project aims to strengthen Romania's national defense industry and its role on NATO's eastern flank, while also promoting local reindustrialization and job creation.

Entities

CITR · Damen Shipyards Mangalia · Government of Romania · Mangalia Shipyard · Paul Dieter Cîrlănaru · Rheinmetall · Rheinmetall Real Estate România SRL · Romanian Government

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