German defence group Rheinmetall and Italian-Swiss shipping company Mediterranean Shipping Company (MSC) have jointly won the auction for Romania's Mangalia shipyard, Rheinmetall announced on Monday, October 19.
The partners will jointly pay around €138 million ($154.9 million) for the yard south of Constanța. Rheinmetall said it expects the acquisition to be finalised within a few weeks.
Mangalia will host a dual-purpose operation, with civil and military shipbuilding conducted side by side for domestic and international customers. Separate sectors and security zones are planned for the site.
Rheinmetall Naval Systems will use the yard to support construction of two 96-metre offshore patrol vessels and two 43-metre diver support vessels for the Romanian Government.
The four ships form part of a €5.7 billion defence package awarded to Rheinmetall in May under the European Union's security action for Europe (SAFE) programme. Deliveries under the package are scheduled for 2028–2030.
Tim Wagner, CEO of the naval systems division, said the company plans to expand and upgrade the yard and adapt its capacity to future requirements. Rheinmetall intends Mangalia to become a hub for further military shipbuilding projects in south-eastern Europe.
Rheinmetall first outlined a possible joint takeover with MSC in May. At the time, it described Mangalia as a bankrupt shipyard.
In 2019, the yard covered about 100 hectares. It had three graving drydocks measuring from 302 by 48 metres up to 360 by 60 metres, as well as 1,550 metres of quayside.