DUESSELDORF (dpa-AFX) - Rheinmetall AG (RHM.DE, RHM.HM), a German company that provides mobility and security technologies, on Monday announced that it and Swiss shipping company Mediterranean Shipping Company had won an auction to acquire Romania's Mangalia shipyard.
The purchase price is approximately 138 million euros.
The acquisition is expected to be finalized within a few weeks.
The companies plan to develop the shipyard as a dual-use facility for both civilian and military shipbuilding, serving domestic and international markets.
The company's Naval Systems plans to use the shipyard to build four naval vessels commissioned by the Romanian government, including two 96-meter offshore patrol vessels and two 43-meter diver support vessels.
The company also plans to upgrade the shipyard's infrastructure and expand its capacity to support future military shipbuilding projects in southeastern Europe.
Rheinmetall is currently trading 5.01% lesser at EUR 1,041.20 on XETRA.
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