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Rheinmetall, MSC jointly acquire Romanian shipyard

By Reuters News2 hours ago Updated

BERLIN, Oct 19 (Reuters) - German defence group Rheinmetall RHMG.DE and Swiss-based shipping company MSC have acquired Romanian shipyard Mangalia for €138 million ($155 million) and aim to develop it for both civilian and military shipbuilding, Rheinmetall said on Monday.

Here are some more details from Rheinmetall's statement:

Rheinmetall and MSC have been awarded the bid following an auction.
The shipyard, located on the Black Sea coast, will be divided into sectors and security zones.
For Rheinmetall, Mangalia will play an important role in building four naval vessels, which have been commissioned by Romania.
The site is intended to serve as a hub for further military shipbuilding projects.
"In doing so, Rheinmetall is creating a scalable foundation for future projects in southeastern Europe and strengthens its position in a strategically important market," Rheinmetall said.

($1 = €0.8916)

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