Dutch group Damen has been compelled to give up management and operational control of the Mangalia shipyard, Romania’s largest shipbuilder and the biggest in Damen’s international network. The move has been precipitated by a change in Romanian legislation, but does not affect the organisation’s other, longer-established presence in the country by way of Damen Shipyards Galati.

Damen Shipyards Mangalia formally came into being during November 2018 after Daewoo Shipbuilding & Marine Engineering (DSME) sold its 51% majority holding in the then Daewoo Mangalia Heavy Industries to the Dutch group. The transaction was approved by the Romanian state on condition that Damen transferred 2% of its 51% stake to the Romanian government, which already owned 49% of the yard.