German defence and technology group Rheinmetall and Swiss-based shipping company Mediterranean Shipping Company (MSC) have won the auction for the Mangalia shipyard on Romania's Black Sea coast. The acquisition, valued at approximately €138 million, is intended to transform the facility into a production centre for both civilian and military vessels.
Rheinmetall announced the agreement on 19 October 2026. The shipyard is located south of the port city of Constanța and is expected to become an important part of the company's expanding naval operations.
The two partners will jointly pay the purchase price, with the acquisition expected to be finalised within several weeks.
The successful auction bid does not yet mean that the formal transfer of ownership has been completed.
Civil and military shipbuilding at one site
The companies intend to establish a dual-use production facility capable of handling civilian and military shipbuilding projects simultaneously.
The shipyard will be divided into separate operational sectors and security zones to accommodate the different requirements of commercial and naval construction.
For Rheinmetall, the project offers an opportunity to develop naval manufacturing capacity using existing shipyard infrastructure.
The Mangalia facility is expected to play a central role in constructing four vessels commissioned by the Romanian government.
These include two 96-metre offshore patrol vessels and two 43-metre diver support vessels.
The patrol vessels are intended for maritime surveillance and security operations, while the smaller ships will support diving and underwater activities.
The facility is also expected to serve as a production hub for additional naval projects in southeastern Europe.
Major modernisation planned
Rheinmetall intends to carry out a substantial modernisation programme following the acquisition.
The investment will focus on upgrading infrastructure, improving production conditions and adapting the shipyard's capacity to future requirements.
Tim Wagner, CEO of Rheinmetall's Naval Systems division, said the company aims to develop Mangalia into a strategically important industrial location.
According to Wagner, the planned improvements should strengthen Rheinmetall's ability to undertake additional projects while expanding its presence in the region.
The company has not yet disclosed a detailed investment budget for the modernisation programme.
The long-term objective is to create a flexible production facility capable of handling both existing orders and future contracts.
Expanding operations in southeastern Europe
Rheinmetall already has an industrial presence in Romania through Rheinmetall Automecanica, based in Mediaș, which has been part of the group since 2024.
The Mangalia acquisition would extend its Romanian activities into naval construction and related industrial services.
For MSC, the partnership provides an opportunity to participate in developing a shipyard that can also support commercial shipbuilding.
The agreement reflects growing cooperation between defence manufacturers and established commercial maritime operators.
By combining existing facilities with new investment, the partners aim to develop production capacity for both domestic and international customers.
However, the final scope of the project will depend on completion of the acquisition, future orders and the implementation of the planned modernisation.
Sources: Rheinmetall, press release dated 19 October 2026; Reuters, 19 October 2026; Naval News, 19 October 2026.
