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A large naval shipyard is once again the property of the Romanian state

Dutchmen from Damen Shipyards Group will take over operational control

By Edwig Ban
The transaction by which the Ministry of Economy takes over the majority stake of 51% at the DMHI Mangalia site was completed, according to a communiqué from the ministry.
Thus, the Ministry of Economy, through Naval yard 2 Mai Mangalia SA, becomes a majority shareholder with 51% of shares, while the Dutch partner, Damen Shipyards Group, will hold 49% and will take over the operational control.
"The Dutch experience and management will contribute to the stabilization of the yard, with the expectation of a sustainable and efficient recovery of the activity. As a majority shareholder, the Romanian state will carefully monitor the evolution of the shipyard, in order to ensure the revitalization of the industrial objective". says the press release.
Economy Minister Danuţ Andruşca said that there are now reasons for optimism within the company and within the local community, which has been for a long time too long in a difficult situation.
"I am pleased to announce the completion of the share package transaction at Mangalia yard, exactly 4 months after I publicly announced that we had solved a blocking situation that lasted for too long with the ministry team. the future of the yard and its revitalization. I trust that the Dutch partner will contribute to the re-launch of the site and its development ", the minister said.
According to him, it is a premiere for Romania that the Romanian state should become a majority shareholder in a strategic industrial objective that had previously been privatized.
"The Shipyard is a strategic objective and the control of the Romanian state is a major success. It is also a proof of the dignified national economic policy that the Government has assumed and it is proof that we keep our word and that we do what we say we will achieve, "the Economy Minister said.
For his part, Frank Eggink, a member of the Board of Directors of Damen Shipyards Group and CFO, announced that qualified employees will be kept in the company.
"Damen aims to restore the financial health of the yard, stabilize employment and track international trade opportunities to help restore levels of activity. Meanwhile, Damen will facilitate a smooth transition and will keep the talented human resource and qualified, "Egglink said, quoted in the ministry's press release.
To mark the first day of operations at the Mangalia Shipyard, Damen organized a ceremony on Monday, July 23, marking the successful conclusion of the Daewoo Shipbuilding & Marine Engineering (DSME) deal for the previously known Mangalia Shipyard such as Daewoo Mangalia Heavy Industries (DMHI), which will be renamed Damen Mangalia Shipyard and will be exploited as a joint venture with the Romanian Government. Damen will assume the operational control of this site.
The Mangalia site is located on the Black Sea coast, has three dry docks with a total length of 982 meters and a mooring space of 1.6 kilometers. Docks, with a width of 48 and 60 meters, will give Damen the ability to build larger ships and structures. The total site area of approximately 1 million square meters makes it the largest construction site in the Damen Group.
The new management team, Damen Shipyards Mangalia, will be presented at the event, under the leadership of Chief Executive Chris Groninger.
"We will face a difficult time, given the current state of the yard. However, with the full support of the Romanian Government, the experienced labor force and the local community, Damen aims to restore the financial health of the yard, to stabilize employment and track international trade opportunities to help restore levels of activity. "Meanwhile, Damen will facilitate a smooth transition and retain talented and skilled resources that are significantly engaged," said the Group's economic director Damen, Frank Eggink.
According to the new director of Damen Shipyards Mangalia, Chris Groninger, "Impressive shipyard facilities and knowledge and professionalism in Mangalia, combined with Damen's design and commercial power, should be the guarantee for a successful future."
The Dutch group Damen owns in Romania the shipyard in Galaţi since 1999, Damen Shipyard Galati, where he has made some of the most important ship shipments of the group in recent years.


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