Harland & Wolff Shipyards to Be Rescued, Preserving 1,200 Jobs
Harland & Wolff Group Holdings PLC employees will receive an official confirmation later Thursday that the shipyards have been saved. This will ensure the retention of 1,200 jobs across locations in Northern Ireland, Scotland, and Devon.
Spanish shipbuilder firm Navantia will acquire the company after negotiating improved terms on a £1.6 billion contract to build three solid support vessels for the Royal Navy fleet.
Spain’s state-owned shipbuilder, Navantia, is expected to announce today its acquisition of Harland & Wolff, the historic Belfast shipyard famously known for building the Titanic, through a rescue agreement.
The future of Harland & Wolff has remained uncertain since September, when the company entered administration.
According to the BBC, the deal is anticipated to save all jobs at Harland & Wolff and is likely to include the shipyard’s facilities in both Scotland and England.
Bloomberg reports that the UK government will provide financial support to facilitate the rescue, despite initial reluctance to intervene.
GMB Union Applauds Rescue, Calls for Enhanced Investment in Skills and Facilities
The GMB union has expressed its approval of the rescue deal, emphasizing the need for further investment in skills and facilities. Navantia’s acquisition brings renewed optimism to Northern Ireland’s shipbuilding industry, offering hope after decades of decline.
Secretary of State for Northern Ireland Hilary Benn says:
This investment is great news for Belfast, for the Northern Ireland economy and, above all, for Harland and Wolff’s hugely skilled shipbuilding workforce.
Harland and Wolff is an iconic, internationally-renowned company with a long and proud history.
I am delighted that, with this deal, it will now have a bright future ahead.
