Exim Banca Romaneasca and the Damen Shipyards Galati, one of the major naval builders in Romania, have concluded a financing agreement worth 25 million euros for the implementation of the company's investment program focused on expanding and equipping ship assembly facilities, a release informs.
"As established supporters of the business environment, we are permanently at the side of businesses with a development vision, particularly in the manufacturing sector that brings added value to the Romanian economy. We believe that it is important for Romania to have strong local producers and therefore we are pleased to support the Damen Galati Naval Shipyard implement its investment projects in an activity field of national and local strategic importance, as it engages workforce and an entire related sector of services and subcontractors, on a horizontal level," said Exim Banca Romaneasca executive president Traian Halalai, announce agerpres.ro.
The planned investment will allow the shipbuilder to expand its construction capacities, especially for ships in the luxury segment, but also for military vessels.
Last year, the Damen Galati Naval Shipyard inaugurated a new fully robotized welding line for micro-panels, with an investment that was also funded by Exim Banca Romaneasca, the release states.
"This year we celebrate 25 years of Damen activity in Galati and we are pleased that we are currently carrying out a new investment project that will allow the shipyard to evolve in a prosperous and sustainable direction. Our continuous concern has been to build a company oriented towards innovation, progress, performance and professionalism. Thus, we consolidated our position as one of the best performing shipyards, standing out through a diversified portfolio of vessels built, and through our ability to meet the most complex and sophisticated requirements of our clients. With a highly qualified workforce and advanced resources, we are committed to providing high quality solutions designed to meet the industry's highest standards. We are determined to continue investing and are glad that in Exim Banca Romaneasca we found a partner who will support us in our endeavor," said Damen Shipyards Galati managing director Doru Gaibar.
According to the cited source, the total investments made by Damen Group since taking over the majority stake in the Galati shipbuilding yard in 1999 exceed 146 million euros.
"The company's major project this year was the completion of the construction and delivery of a 179-meter long combat support ship for the Royal Netherlands Navy. Among the most important ongoing production projects are the construction of a multipurpose ship for the Portuguese Navy and the delivery of four fully electric ferries for Canada's British Columbia province, as part of the company's commitment to become a sustainable provider of maritime solutions," the release shows.
With an area of 55 hectares and having approximately 1,500 employees, Damen Shipyards Galati is one of the largest production units of the Dutch Damen Group which operates 35 shipbuilding and repair yards worldwide. As from 1999, Damen Shipyards Galati has delivered more than 500 vessels to clients from all over the world (among which 30 naval vessels for 13 different countries, including NATO and EU countries). The company's portfolio includes patrol ships, offshore vessels, ferries, dredgers and barges, super-yachts, naval vessels and tugs.
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