The Romanian state is a minority shareholder in the shipyard, with 49%.
Damen has acquired Daewoo Mangalia Heavy Industries SA and Daewoo Mangalia Human Resources Management SRL, which is fully owned by Daewoo Mangalia Heavy Industries.
The shipyard was established in 1997 as a joint-venture with the Romanian government and is located 45 kilometers south of Constanta on the Black Sea coast.
The acquisition of Mangalia shipyard secures the Dutch group the position of leader on the Romanian shipbuilding market. Damen already operates a shipyard in Galati, eastern Romania.