The Mangalia shipyard “is not functional” and will need investment and workers before it can restart production, Andre Neumann, sales director of Rheinmetall’s Naval Systems division, told News.ro at Euronaval. He stressed the German group has not bought the assets yet — only submitted the winning bid.

“We have not bought the shipyard yet; we submitted a winning offer,” Neumann said. On the site’s condition: “The shipyard is insolvent and inactive. It is not functional. Significant maintenance work will be needed. Investment is required… There is also no workforce left. We have to hire people. That will take some time.”

Rheinmetall Real Estate România was named winner on 9 October after four failed auctions, bidding €138 million — 75% of the €184 million starting price. The deal is unfinished: only the 10% participation guarantee on the starting value has been paid.

With MSC partners, the group wants a dual-use yard — military and commercial ships — for steady workload and supplier stability. “Both companies have a long-term vision for operating the shipyard,” Neumann said.

When the auction was won, Rheinmetall Naval Systems said Mangalia would matter for four military vessels ordered by Romania and as a hub for future south-east European projects. Division CEO Tim Wagner then spoke of full modernisation and higher capacity.

Lead creditor Damen Holding BV has challenged the sale-procedure change; a ruling is expected on 11 December at the Constanța Court of Appeal. The German firm has also been present in Romania since 2024 through Rheinmetall Automecanica in Mediaș.

Image: Mangalia shipyard (Wikimedia Commons, CC BY-SA 4.0).

Sources consulted: Rheinmetall director: Mangalia shipyard not functional, needs investment — News.ro.