Strain On Damen’s Romanian Links

Damen Mangalia

Source: Damen

Dutch group Damen has been compelled to give up management and operational control of the Mangalia shipyard, Romania’s largest shipbuilder and the biggest in Damen’s international network. The move has been precipitated by a change in Romanian legislation, but does not affect the organisation’s other, longer-established presence in the country by way of Damen Shipyards Galati.

Damen Shipyards Mangalia formally came into being during November 2018 after Daewoo Shipbuilding & Marine Engineering (DSME) sold its 51% majority holding in the then Daewoo Mangalia Heavy Industries to the Dutch group. The transaction was approved by the Romanian state on condition that Damen transferred 2% of its 51% stake to the Romanian government, which already owned 49% of the yard.

Continue this article…

Already subscribed? SIGN IN now


Sign up for FREE to continue this article!

Want to read more before deciding on a subscription? It only takes a minute to sign up for a free account and you’ll get to enjoy:

  • Weekly newsletters providing valuable news and information on the shipping sector
  • Full access to our news archive
  • Live and archived webinars, podcasts and videos
  • Articles on innovations and current trends in the shipping industry
  • Our extensive archive of data, research and intelligence

Get more free content sign up today

Ready to subscribe? Choose from one of our subscription packages for unlimited access!