December 14 (SeeNews) - French shipbuilding group Piriou said it has bought the ATG Giurgiu shipyard in southern Romania for an undisclosed sum.
Following the acquisition, Piriou's workforce will increase by 300 employees to 1,300, the group said in a press release on Monday.
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"This shipyard we have been working with as a subcontractor in the past years enjoys a very good local and international reputation. We will rely on the management team we have already reinforced and carry on with the development of the site which offers a great potential," Piriou Group president Vincent Faujour said.
"Whereas our sites in Brittany have a great workload for several years, the acquisition of ATG strengthens our industrial capacities and gives us the means to achieve our ambitions, namely to double our activity by 2025. We used to subcontract some hulls in Eastern Europe to third-party yards in case of overload," the CEO added.
Located inside the free zone of Giurgiu, on the Danube river, the Giurgiu shipyard is over 100 years old. It was taken over in 2002 by Romanian businessman Teodor Apostol, who renamed it to ATG Giurgiu Shipyard.
The shipyard's platform was design and built for maritime and naval ships with a maximum length of 110 m, width of 17,5 m and 3,000 tonnes weight, according to data posted on its website.
Involved in shipbuilding, repair, naval engineering and services since 1965, Piriou is specialized in manufacturing vessels of up to 120 m in length. PIRIOU is now established in Asia (Vietnam), Africa (Nigeria, Algeria, Morocco, Senegal), in the Indian Ocean (La Réunion) and Europe (mainland France, Romania).