South Korea's Daewoo Shipbuilding and Marine Co, the world's second-largest shipbuilder, said on Sunday its Romanian unit had won $850 million in orders from German shipping companies. Daewoo said the unit, Daewoo Mangalia Heavy Industries S.A., would deliver six container ships to Germany's Hamburg Sud by March 2009. It would build another four for NSB and deliver them by March 2008, Daewoo said in a statement.
Daewoo Shipbuilding want to grow annual sales to 20 trillion won ($19.7 billion) by 2015, four times the 4.8 trillion won seen in 2004, mostly by boosting its overseas business.
The company bought Daewoo Mangalia in 1997 and said in February it might buy shipbuilders in China and Brazil.
Shares in Daewoo Shipbuilding closed flat on Friday at 19,550 won, outperforming the broader market's 0.7 percent decline.
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