Exim Banca Romaneasca and Damen Shipyard Galați Sign a €25 Million Financial Agreement

Exim Banca Romaneasca and Damen Shipyard Galati, one of the most prominent players in Romania’s naval industry, have concluded a €25 million financing agreement aimed at implementing the company’s investment program. This program focuses on expanding and equipping its ship assembly facilities.

“As dedicated supporters of the business environment, we consistently stand by development-oriented enterprises, particularly in the production sector, which adds value to the Romanian economy. We believe it is crucial for Romania to have strong local manufacturers, and we are delighted to support Damen Shipyard Galati in implementing its investment projects in a strategically significant sector, both nationally and locally. This industry engages a workforce and an entire network of related services and subcontractors on a horizontal level,” stated Traian Halalai, Executive President of Exim Banca Romaneasca.

The investment to be undertaken by Damen Shipyard Galati will enable the company to expand its indoor construction capacities, particularly for vessels dedicated to the luxury and military segments. This major investment project follows the inauguration last year of a new robotic line for manufacturing micro-panels, which was also financed by Exim Banca Romaneasca.

“This year, we celebrate 25 years of Damen’s activity in Galati, and we are thrilled to mark this milestone with a new investment project that will steer the shipyard towards a prosperous and sustainable direction. Our continuous focus has been to build a company oriented toward innovation, progress, performance, and professionalism. In doing so, we have consolidated our position as one of the most efficient shipyards, distinguished by a diversified portfolio of vessels and the ability to meet the most complex and demanding customer requirements. With a highly skilled workforce and advanced resources, we are committed to delivering high-quality solutions designed to meet the highest industry standards. We are determined to continue investing and are pleased to have found a partner in Exim Banca Romaneasca to support us in this endeavor,” said Doru Gaibar, General Director of Damen Shipyard Galati.

The total value of investments made by the Damen group since acquiring a majority stake in the Galati shipyard in 1999 exceeds €146 million.

The company’s major project this year was the completion and delivery of a 179-meter military support ship for the Royal Netherlands Navy. Key ongoing production projects include the construction of a multifunctional ship for the Portuguese Navy and the delivery of four fully electric ferries for British Columbia, Canada, reflecting the company’s commitment to becoming a sustainable provider of maritime solutions.

About Damen Shipyard Galati

With an area of 53 hectares and approximately 1,500 employees, Damen Shipyard Galati is among the largest production units within the Dutch Damen Group. Since its acquisition by Damen in 1999, the shipyard has evolved into a high-efficiency manufacturing facility with significant output. The expertise and carefully managed supply chain have been the foundation for Damen’s most important deliveries to date, fully reflecting the group’s diverse product portfolio. Since 1999, Damen Shipyard Galati has delivered over 500 ships to clients worldwide, including more than 30 military ships built for 13 different countries, including NATO and EU member states. The company’s portfolio includes patrol vessels, offshore ships, ferries, dredgers, barges, superyachts, military ships, and tugboats. Damen Group operates 35 shipyards across five continents, supported by a global network of sales and service operations.

About Exim Banca Romaneasca

Exim Banca Romaneasca is a 100% Romanian universal bank, ranking among the top 10 largest credit institutions by assets. The bank actively engages in supporting and promoting the Romanian business environment, with its financial tools accessible under favorable conditions to all types of companies, whether small and medium enterprises (SMEs) or large companies, whether conducting international transactions or targeting the domestic market. Companies also have at their disposal a competitive portfolio of treasury, cash management, trade finance, and factoring products, which complete the financing and guarantee offerings. Additionally, as an agent of the state in the guarantees and insurance market, Exim Banca Romaneasca is one of the instruments through which public funds, provided by the Romanian state, support the sustainable development of the economy.

November 21, 2024