{"id":10005,"date":"2026-05-05T07:00:33","date_gmt":"2026-05-05T07:00:33","guid":{"rendered":"https:\/\/ofero.news\/?p=10005"},"modified":"2026-05-05T07:00:33","modified_gmt":"2026-05-05T07:00:33","slug":"romania-moves-to-take-over-bankrupt-mangalia-shipyard-for-defence-production","status":"publish","type":"post","link":"https:\/\/ofero.news\/?p=10005","title":{"rendered":"Romania moves to take over bankrupt Mangalia shipyard for defence production"},"content":{"rendered":"<p>The government of Romania has approved an emergency ordinance stipulating that the state can legally take over the functional assets of companies declared by the executive as being of strategic interest, in bankruptcy, and that can produce for the defence industry, paying no more than the price established by their liquidation valuation report, according to <a href=\"https:\/\/www.profit.ro\/stiri\/politic\/decizie-statul-vrea-damen-mangalia-la-pret-de-lichidare-fara-licitatie-ca-sa-faca-joint-venture-cu-rheinmetall-pentru-comenzi-navale-safe-vanzarea-la-votul-creditorilor-22432426?mc_cid=1336705c71&amp;mc_eid=cd1f92f96c\" target=\"_blank\">Profit.ro<\/a>. The move is said to target Mangalia shipyard, which the government seeks to involve in a joint venture with Rheinmetall, for SAFE naval orders.<\/p>\n<p>At the end of March, the government declared Liberty Gala\u021bi steel mill, Damen Mangalia shipyard, and Romaero aeronautical operator of strategic interest. Of the three, Damen Mangalia very recently went bankrupt. The most recent authorised valuation of the yard&#8217;s assets established a liquidation value of EUR 87 million.<\/p>\n<p>The takeover will be made by government decision, previously approved by the security council CSAT, and the purchased assets will be contributed to the share capital of joint-venture companies formed by Romanian state-owned companies in the defence industry with private investors, according to the ordinance. The value at which the state can take over the functional assets is at most that established by the valuation report prepared for the liquidation.<\/p>\n<p>The ordinance provides that the proposed purchase may be rejected only if another method of capitalisation of assets in discussion is identified, maintaining the destination and integrity of the functional asset \u2013 the buyer having the obligation to maintain the destination and integrity of the functional asset.<\/p>\n<p>The draft emergency ordinance was developed at a time when, at the Damen Mangalia shipyard, which had just gone bankrupt, representatives of both the Ministry of Economy and the companies Rheinmettal and Mediterranean Shipping Company (MSC, one of the world&#8217;s largest naval operators) were expected to come on a working visit, the latter being indicated in the summer as interested in buying the shipyard.<\/p>\n<p><em>iulian@romania-insider.com<\/em><\/p>\n<p><em>(Photo source: Damen)<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>The government of Romania has approved an emergency ordinance stipulating that the state can legally take over the functional assets of companies declared by the executive as being of strategic interest, in bankruptcy, and that can produce for the defence industry, paying no more than the price established by their liquidation valuation report, according to [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10005","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/10005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10005"}],"version-history":[{"count":0,"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/10005\/revisions"}],"wp:attachment":[{"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}