German automotive and arms manufacturer Rheinmetall has revealed it is working with Mediterranean Shipping Co (MSC) to take over the bankrupt Romanian shipyard Mangalia. The two companies are looking at using the yard – one of Europe’s largest – for both military and commercial shipbuilding.
Rheinmetall recently acquired the shipyards belonging to the Lürssen Group, and is one of the world’s leading naval systems providers while MSC is a giant in the fields of container and cruise shipping.
“The revitalisation of the shipyard in Mangalia is of strategic importance,” Rheinmetall stated in a release, adding: “The idea is to develop Romania into a major European production hub for shipbuilding.”
The yard which boasts three drydocks can trace its origins back to 1976. In 1997, Daewoo Shipbuilding & Marine Engineering (DSME) took it over for a period of 20 years at which point Damen came in. It has been under insolvency since June 2024.