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22 March 2018 The on-line newspaper devoted to the world of transports 14:40 GMT+1

February 27, 2018

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Original news
Offer of Fincantieri in order to eventually become industrial partner and shareholder of the Rumanian ship yard Daewoo-Mangalia Heavy Industries Ltd.

Proposal in order to acquire until 49% of the capital of the navalmeccanica company

The navalmeccanico group Italian Fincantieri has sent to the government of Bucharest an offer in order to collaborate to the management operating and commercial of the ship yard Daewoo-Mangalia Heavy Industries Ltd. (DMHI) and eventual the next purchase until 49% of the capital stock of the Rumanian company. Magazine announces Rumanian "" remembering that recently group Dutch Damen Shipyards has signed agreement in order to acquire quota majority of 51% of capital of DMHI stopped from South Korean Daewoo Shipbuilding & Marine Engineering (DSME), agreement that successively government Rumanian, that he possesses 49% of the capital of the shipbuilding society that is constituted in 1997 by DSME and the "2 Never" Mangalia Shipyard, has questioned showing the statalizzazione of the ship yard exercising the preemptive right on 51% of the capital(of 11 January 2018).

"" precise that in specific the Fincantieri offer of being ready to more expand ulteriorly own activities in Rumania through a tightened cooperation and than along term with the Rumanian ship yard to which Fincantieri already subcontracts a part of workloads. In particular, the Italian group remembers to have stipulated in a 2017 contract with DMHI for the realization of about 12.000 tons of elements which prefabricated for a total of 500.000 hours working, to which in 2018 another is followed already subcontracts for ulterior 5,000 tons to which it could follow of a second of the same entity within year-end. Moreover the Fincantieri group, through the controlled Vard, is present in Rumania where it controls the ship yards of Tulcea and Braila that 5,000 people appoint to a job.

In the Fincantieri offer availability to supply assistance and know-how-how in the fields of the planning and the production is offered to which industrial partner of DMHI manifesting let alone in commercial field. This - the Italian group evidences - would lead to the strengthening of the industrial ability, the occupation and the know-how-how of Rumania in strategic fields and to elevated value as those of the cruise ships, the oil tankers and the liquefied gas tankers, of the military ships, entering to take part of the net of total production of the Fincantieri group.

Moreover in offer group Fincantieri specific that, once that the Rumanian government will have satisfied conditions that must still be discussed, as the support to the credit to the export and the eventual concession of contracts of repair and shipbuilding to the yard of Mangalia, could acquire quotas the DMHI capital arriving, if were selected for the construction of four corvettes multirole for Marina, to acquire 49% of the actions.

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