French group Piriou acquired the Romanian ATG Shipyard located in Giurgiu on the Danube and operating in the port of Agigea Sud-Constanța at the Black Sea as well, Profit.ro reported.

Last year, the Romanian shipbuilding company had a turnover of RON 5.6 mln (EUR 1.2 mln) and reported RON 2.2 mln losses while employing on average 226.

The French group is thus entering the local market, where it has not operated before.

From 2002 until now, the Romanian company was controlled by local investors Teodor Apostol and Adrian Patriche. The latter serves as the general manager of the company.

The French group, on the market since 1965 and with over 500 ships built and delivered worldwide, has bought the 100% stake. With the new acquisition, it increased the total number of employees to 1,300 people, of which 550 in France.

The French group has an annual turnover of about EUR 200 mln.

Giurgiu shipyard is located on a 15-hectare site, with four assembly halls and a dock-launch capacity of 3,000 tonnes. It has the capacity to process steel sheets and profiles of up to 600/700 tonnes per month, approximately 10,000 tonnes per year and a processing capacity of aluminium sheets and profiles of 1,500 tonnes per year.

andrei@romania-insider.com

(Photo source: Shipyardatg.ro)