The Netherlands-based Damen Shipyards Group has entered into a share purchase agreement with Daewoo Shipbuilding and Marine Engineering (DSME) for the majority share in Daewoo Mangalia Heavy Industries (DMHI).
The Daewoo shipyard on the Black Sea coast at Mangalia, Romania was established in 1997 as a joint venture between Daewoo and 2 Mai Mangalia Shipyard, with Daewoo as majority shareholder.
Close to Damen’s Galati shipyard on the banks of the River Danube, the 980,000-square-metre yard has three dry docks with a total length of 982 metres and 1.6 kilometres of berthing space. The docks, with a width of between 48 and 60 metres, will provide Damen with capacity to cater for the largest maritime vessels and structures.
Romanian competition authorities have already approved the transaction.