Rheinmetall and MSC have jointly won the auction for Romania's Mangalia shipyard for about €138m, the German defence group said on 19 October 2026.
Why Rheinmetall AG and MSC (Mediterranean Shipping Company) is buying Mangalia shipyard
The partners plan a dual-use site for civil and military shipbuilding, divided into separate sectors and security zones. Rheinmetall wants the yard to anchor its military shipbuilding in south-eastern Europe. Tim Wagner, head of Rheinmetall's Naval Systems division, said the company plans to expand and upgrade the shipyard comprehensively after the acquisition.
Deal terms and financing
The two partners will pay the purchase price of about €138m jointly. Neither has disclosed its share of the ownership. Romanian reports say the 9 October auction was won by Rheinmetall Real Estate România SRL at €138,034,320.47 excluding VAT.
Regulatory approvals and timing
Rheinmetall expects the acquisition to be finalised within a few weeks.
Market context
The yard went bankrupt after a dispute between Damen, its largest creditor, and the Romanian government, and earlier sale attempts drew no bidders. It will build two 96-metre offshore patrol vessels and two 43-metre diver support vessels ordered by Romania, part of a defence package awarded to Rheinmetall under the EU's SAFE programme. Rheinmetall first confirmed talks with MSC about the yard in May 2026.
