Morningstar

Rheinmetall to Buy Romania's Mangalia Shipyard

Provided by Dow Jones

By Michael Hennessey 




  Rheinmetall said it and Swiss shipping company Mediterranean Shipping Co. agreed to buy the Romanian Mangalia shipyard for 138 million euros ($155.1 million). 



  The German defense group said Monday that the shipyard would be developed as a dual-use location for both civil and military shipbuilding activities for domestic and international markets. 



  Rheinmetall and MSC were awarded the bid following an auction. The fee will be paid jointly by the two partners, and the deal should be finalized in a few weeks. 



  The Mangalia shipyard, located south of Constanta, will play a key role in Rheinmetall's building of four naval vessels for the Romanian government, the company said. It will build two 96-meter offshore patrol vessels and two 43-meter diver support vessels. 



  The site will also be used as a hub for other military shipbuilding projects, Rheinmetall added. 



  "Following the acquisition, we plan to expand and upgrade the shipyard comprehensively. Our aim is to further develop the existing infrastructure, improve production conditions and adapt capacity to meet future requirements," said Tim Wagner, chief executive officer of Rheinmetall's naval systems division. 





  Write to Michael Hennessey at michael.hennessey@wsj.com 





  (END) Dow Jones Newswires



  October 19, 2026 02:39 ET (06:39 GMT)


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