Based on the official results released so far, the companies with the largest loss on the local market are Oltenia energy holding, with RON693 million, ArcelorMittal Galati, with RON482 million, and Oltchim, with RON460 million.
Former economy mister Constantin Nita said in 2014 that Daewoo-Mangalia Heavy Industries has “an essential economic and social importance for Romania.“ The company ended 2014 with revenue of RON914 million, down 23% compared with 2013, while the number of employees remained constant at 2,600 people.
DMHI is 50.99% owned by Daewoo Shipbuilding & Marine Engineering from South Korea. Other shareholders include Santierul Naval 2 Mai Mangalia (owned by the Romanian Economy Ministry) with a 48.99% stake, and three South Korean individuals.
The Mangalia shipyard is the largest shipyard in Romania and in the Black Sea area, with an activity that involves some 7,000 employees.
In 2014, the five largest ship builders in Romania, with 80% of the market, registered lower revenues with smaller profit margins.
The shipyards in Mangalia (owned by Daewoo – South Korea), Tulcea (Vard – Norway), Galati (Damen – the Netherlands), Braila (Vard) and Constanta (Gheorghe Bosanceanu) posted cumulated sales revenue of RON2.5 billion in 2014, compared with RON3 billion a year before.