> ## Content Index > Fetch the complete content index at: https://www.adriadefense.com/llms.txt > Use this file to discover other available public pages before exploring further. # Rheinmetall Wins €138 Million Auction for Romania’s Mangalia Shipyard - URL: https://www.adriadefense.com/rheinmetall-wins-eur138-million-auction-for-romanias-mangalia-shipyard/ - Published: 2026-10-12T06:05:04.000Z - Updated: 2026-10-12T06:05:04.000Z - Description: Rheinmetall wins the €138 million auction for Romania’s Mangalia shipyard, supporting a €920 million naval program for four Romanian Navy vessels. - Author: AdriaDefense Desk - Tags: Romania, Germany, CEE, Rheinmetall, Naval Defense, Black Sea, Industry **German defense group Rheinmetall has secured the Mangalia shipyard on Romania’s Black Sea coast for €138 million, opening the way for its revival as a naval production center linked to a €920 million Romanian military shipbuilding program.** German defense manufacturer Rheinmetall has won the auction for Romania’s bankrupt Mangalia shipyard, acquiring the industrial assets for €138.03 million excluding VAT. The sale, announced on October 9 by court-appointed liquidator CITR, follows four unsuccessful auctions and months of negotiations over the future of one of Romania’s largest shipbuilding facilities. The successful bidder was Rheinmetall Real Estate România SRL, a local subsidiary of the Düsseldorf-based defense group. The final auction price was approximately 25% below the original €184 million valuation used in the earlier sale attempts. CITR confirmed the auction result, although the announcement did not specify when the remaining transfer formalities would be completed. Romania’s government welcomed the acquisition, describing the reopening of Mangalia as an important development for the country's defense industry and Black Sea security. In an [official statement issued on October 9](https://agerpres.ro/comunicate/2026/10/09/comunicat-de-presa---guvern--1601594?ref=adriadefense.com), the government confirmed that its negotiations with Rheinmetall under the European Union’s Security Action for Europe (SAFE) program had linked military procurement contracts to industrial investment commitments, including the revitalization of the shipyard. The facility entered insolvency proceedings in June 2024 and was declared bankrupt in April 2026 after creditors rejected a restructuring plan. Its financial collapse resulted in the dismissal of approximately 1,000 employees, according to the Romanian government. The shipyard had previously operated under a joint ownership structure involving the Romanian state, which held 51%, and Dutch shipbuilder Damen, which held the remaining 49%. ## €920 Million Naval Contract Already Signed The acquisition is closely connected to an existing €920 million naval procurement contract signed on May 29, 2026, between Romania’s Ministry of National Defence and NVL B.V. & Co. KG, Rheinmetall’s naval shipbuilding subsidiary. According to the [Romanian Ministry of National Defence](https://english.mapn.ro/cpresa/6788%5Fpress-release?ref=adriadefense.com), the contract covers two offshore patrol vessels and two diver intervention vessels. The four ships are intended to strengthen the Romanian Navy’s maritime surveillance, operational support and security capabilities in the Black Sea. Romanian defense authorities have identified Mangalia as the intended production site for the program. Rheinmetall has said that deliveries under its broader Romanian defense contract package are scheduled to begin in 2028 and conclude by 2030. The naval order forms part of a larger package of approximately €5.7 billion in contracts awarded to Rheinmetall under Romania’s SAFE-backed procurement program. These include Lynx infantry fighting vehicles, Skyranger and Skynex air defense systems, ammunition and naval platforms. The German group is also expanding its industrial presence in Romania through existing operations in Mediaș and planned manufacturing investments. ## Rheinmetall's Plans Beyond Military Shipbuilding Rheinmetall had publicly expressed interest in acquiring Mangalia months before the successful auction. In May, the company announced that it was examining the possibility of developing the facility in cooperation with Swiss shipping group Mediterranean Shipping Company (MSC), with the objective of supporting both military and commercial shipbuilding. The company also outlined longer-term ambitions to attract additional naval and civilian shipbuilding programs, establish workforce training facilities and develop the site into a wider European maritime production center. However, CITR's October 9 announcement identified only Rheinmetall Real Estate România SRL as the successful auction bidder and did not disclose any ownership participation by MSC. The acquisition moves the project beyond the preliminary negotiations previously covered by [AdriaDefense in May](https://www.adriadefense.com/romania-moves-toward-state-control-of-mangalia-shipyard-amid-strategic-industry-concerns/), when the facility's ownership and operating future remained unresolved. The immediate questions now concern the timetable for restarting operations, the scale of investment required to modernize the existing infrastructure and the workforce needed to deliver the four contracted naval vessels. Neither a confirmed restart date nor a detailed investment schedule was provided in the October 9 sale announcement.