Two European shipyards find new owners after years of turmoil

Two of Europe’s best-known shipyards, Romania’s Mangalia and Croatia’s Uljanik Brodogradnja 1856, have found new owners after years of turmoil. German defence giant Rheinmetall has acquired Mangalia for €138m ($160m), while Turkey’s Kuzey Star Shipyard has been selected to take over Uljanik. The deals come after years of financial struggles for both shipyards.