PDSR enters Daewoo Mangalia management

As the Management Board and Censorship Committee structure of Daewoo Mangalia Heavy Industries has changed, two PDSR MPs have entered the shipyard’s management team.

During the latest General Assembly of Shareholders, which took place at the end of last month, Aurel Daraban, a PDSR Deputy and member of the Industry and Services Commission, was appointed vice-president of the shipyard’s Management Board.

Furthermore, Tudor Baltaga, also a PDSR Deputy and member of the Budget-Finances-Banks Commission, was appointed member of the shipyard’s Censorship Committee.

As the same General Assembly decided to replace the company’s vice-president, Gheorghe Petrescu was appointed to this position instead of Sorin Balcan, the former vice-president, reads a company press release.

Daewoo Mangalia Heavy Industries has invested about 32 million dollars between 1997 and 2000. The company claims it has contracts for the entire 2001 and it is working above capacity, which led the shipyard to resort to many subcontractors.

The shipyard’s management team forecasts 72 million-dollar sales this year derived from the delivery of 38 ships. The shipyard has signed contracts for the building of 15 ships that will be delivered to the Netherlands, Cyprus, Norway and Germany.

The works at a floating dock for the US Metro Machine Corporation will start this year and it will be delivered over the first quarter of the next year.

Over the first quarter of this year, the shipyard built four ships delivered to Cyprus and the Netherlands and it is currently mending other 5 ships.

The company registered 80 million dollars in turnover last year, with 50 million dollars derived from the delivery of new ships and 30 million dollars from mending ships. The shipyard estimates turnover of 105 million dollars this year.

Daewoo Mangalia Heavy Industries was established in 1997 following a joint venture between Daewoo Shipbuilding&Marine Engineering from South Korea and 2 Mai Mangalia Shipyard.