The German group Rheinmetall officially confirms that it has won, together with the Swiss company MSC, the bid to take over the Mangalia Shipyard at a price of 138 million euros. The company announces plans to expand and modernize the shipyard, which will produce both civilian and military vessels.
The offer of the two companies was declared the winner following the auction held on October 9 by the judicial liquidator CITR. The transaction is set to be completed after obtaining the mandatory approvals from the Romanian authorities, according to a Rheinmetall statement cited by Economedia.
The shipyard will be expanded and modernized
Rheinmetall intends to transform the Mangalia shipyard into a dual-use naval construction center, serving both the civilian and military markets, catering to both the Romanian and international markets.
The two types of activities will run in parallel, in separate sectors, with distinct security zones.
"Through this acquisition, we plan for a significant expansion and modernization of the shipyard. We aim to develop the existing infrastructure, improve production conditions, and align capacities with future requirements. Thus, in the long term, the shipyard will play an important role in implementing our strategic activities in Southeast Europe and will strengthen our industrial presence locally," said Tim Wagner, CEO of the Naval Systems division within Rheinmetall.
Four military vessels for Romania
The Mangalia Shipyard will play a significant role in the construction of four military vessels contracted by the Romanian Government. These include two large maritime patrol vessels, each measuring 96 meters in length, and two support vessels for divers, each 43 meters long.
In addition, Rheinmetall plans to utilize the shipyard for other military naval construction projects, establishing at Mangalia a production base that can be expanded according to future orders.
The German group, headquartered in Düsseldorf, has already been present in Romania since 2024 through Rheinmetall Automecanica in Mediaș.
What still needs to happen for the completion of the transaction
Although the bid has been awarded, the takeover of the shipyard is not yet final. The transaction needs approval from the Commission for the Examination of Direct Investments (CEID), which assesses foreign investments from the perspective of Romania's security and strategic interests.
Also required is an analysis by the Competition Council, which will examine the effects of the acquisition on the market.
Rheinmetall estimates that the transaction could be completed in the coming weeks, provided the necessary approvals are obtained.
The Mangalia Shipyard is currently part of a company owned 51% by the Romanian state through the Ministry of Economy, and 49% by the Dutch group Damen.
The shareholders of 2 Mai Shipyard, a state-controlled company, have been summoned on November 16 to be informed about the sale of the shipyard's functional assets through a public auction.