Daewoo to bid for Santierul

Daewoo Shipbuilding & Marine Engineering Co. said it will bid for Santierul Naval 2 Mai Mangalia, a Romanian government-owned shipyard, to expand capacity in the country.

“Daewoo Shipbuilding plans to make a bid next week,” Ahn Wook-hyeon, a Daewoo Shipbuilding spokesman, said. He expects the starting bid to be around $4.2 million.

Daewoo Shipbuilding plans to use the Romanian company to help build ship parts for its Romanian unit Daewoo Mangalia Heavy Industries which it formed in 1997. Daewoo and other shipyards in Korea are winning record orders as global trade spurs demand for transport.