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Damen buys second shipyard in Romania acquiring Daewoo's stake in DMHI
NETHERLANDS' shipbuilding and engineering conglomerate Damen Shipyards Group says it has entered into an agreement with South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) to acquire its majority share in subsidiary Daewoo Mangalia Heavy Industries (DMHI).
Daewoo's Mangalia, Romania, shipyard was established in 1997 as a joint venture between Daewoo and 2 Mai Mangalia Shipyard, with Daewoo being the majority shareholder.
The Dutch shipyard group already owns another shipyard in Romania. Currently, the group's largest facility is in the city of Galati, on the banks of the River Danube. The facility has developed into a highly efficient production yard with a significant output of many hundreds of vessels since it was acquired in 1999, according to Damen, as reported by American Shipper.
"The [Galati] yard's shipbuilding expertise and closely-managed supply chain have been behind some of Damen's most important deliveries to date, fully representing the group's diverse product portfolio," Damen said in a statement.
Now, with the Mangalia shipyard, Damen will have its two largest shipyards in close proximity to one another.
The proposed transaction has already met the approval of Romanian competition authorities, Damen said, and added that meetings are being held with the Romanian government in relation to future cooperation in Mangalia and the further development of the Romanian shipbuilding industry.
Daewoo's Mangalia, Romania, shipyard was established in 1997 as a joint venture between Daewoo and 2 Mai Mangalia Shipyard, with Daewoo being the majority shareholder.
The Dutch shipyard group already owns another shipyard in Romania. Currently, the group's largest facility is in the city of Galati, on the banks of the River Danube. The facility has developed into a highly efficient production yard with a significant output of many hundreds of vessels since it was acquired in 1999, according to Damen, as reported by American Shipper.
"The [Galati] yard's shipbuilding expertise and closely-managed supply chain have been behind some of Damen's most important deliveries to date, fully representing the group's diverse product portfolio," Damen said in a statement.
Now, with the Mangalia shipyard, Damen will have its two largest shipyards in close proximity to one another.
The proposed transaction has already met the approval of Romanian competition authorities, Damen said, and added that meetings are being held with the Romanian government in relation to future cooperation in Mangalia and the further development of the Romanian shipbuilding industry.
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