Damen acquires Daewoo’s shares in Daewoo Mangalia Heavy Industries

Damen acquires Daewoo’s shares in Daewoo Mangalia Heavy Industries

11 Nov. 2017

Damen Shipyards Group has entered into a share purchase agreement with Daewoo Shipbuilding & Marine Engineering (DSME) for the acquisition of its majority share in Daewoo Mangalia Heavy Industries (DMHI).

The Daewoo shipyard in Mangalia, Romania was established in 1997 as a joint venture between Daewoo and 2 Mai Mangalia Shipyard with Daewoo as majority shareholder.

With the acquisition of the majority share in the shipyard in Mangalia, Damen takes the next step in strengthening its international shipbuilding and ship repair activities. The Mangalia shipyard is located on the Black Sea coast. The yard is spread over an area of 980,000m2, has three drydocks 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. As such, this move represents a strategic complement to Damen’s current shipyard portfolio. 

Damen already owns a shipyard in Romania, in Galati on the banks of the River Danube, currently the group’s largest shipyard. Since joining Damen in 1999, this yard has developed into a highly efficient production yard with a significant output of many hundreds of vessels and structures.

The 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. With the Mangalia shipyard, Damen will have its two largest shipyards in close proximity to one another. 

The Romanian competition authorities have already approved the envisaged transaction. Furthermore, constructive meetings are being held with the Romanian Government in relation to future cooperation in Mangalia and the further development of the Romanian shipbuilding industry.

Damen acquires Daewoo’s shares in Daewoo Mangalia Heavy Industries

Damen Shipyards Group

Damen Shipyards Group operates 33 shipbuilding and repair yards, employing 9,000 people worldwide. Damen has delivered more than 6,000 vessels in more than 100 countries and delivers some 180 vessels annually to customers worldwide. Based on its unique, standardised ship-design concept Damen is able to guarantee consistent quality.

Damen’s focus on standardisation, modular construction and keeping vessels in stock leads to short delivery times, low ‘total cost of ownership’, high resale values and reliable performance. Furthermore, Damen vessels are based on thorough R&D and proven technology. 

Damen offers a wide range of products, including tugs, workboats, naval and patrol vessels, high speed craft, cargo vessels, dredgers, vessels for the offshore industry, ferries, pontoons and superyachts.

For nearly all vessel types Damen offers a broad range of services, including maintenance, spare parts delivery, training and the transfer of (shipbuilding) know-how. Damen also offers a variety of marine components, such as nozzles, rudders, anchors, anchor chains and steel works.

Damen Shiprepair & Conversion (DSC) has a worldwide network of sixteen repair and conversion yards of which twelve are located in North West Europe. Facilities at the yards include more than 50 floating and (covered) drydocks, the largest of which is 420 x 90 metres, as well as slopes, ship lifts and indoor halls. Projects range from the smallest simple repairs through Class’ maintenance to complex refits and the complete conversion of large offshore structures. DSC completes around 1,350 repair and maintenance jobs annually, both at yards as well as in ports and during voyage.

For further information please contact

Arold de Vries

Director Corporate Affairs

31 (0) 183 655 211

31 (0) 610 902 498

arold.de.vries@damen.com

www.damen.com

 


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